VEON Ltd.

VEON Expands its Digital Commerce Footprint with Acquisition of OLX in Kazakhstan

VEON's subsidiary Beeline Kazakhstan has completed the acquisition of 100% of OLX Group LLP, Kazakhstan's leading classifieds platform, for USD 81 million including roughly USD 6 million of completion adjustments. OLX KZ reaches over 52% of Kazakhstan's active internet population with about 9 million monthly active users and reported just over USD 28 million of annual revenue in the year ending March 2026. The deal advances VEON's digital-operator strategy of layering marketplace and digital services onto its connectivity base, which already includes Uklon, Tabletki.ua and TPL Insurance. In 2Q26, VEON served 227.7 million digital customers, with digital revenue growing 53.6% year-on-year and accounting for over a quarter of Group revenue.

•3d ago

3Q26: VEON Delivers Double-Digit Growth as Digital Services Reach 27.2% of Revenue

VEON reported 3Q26 revenue of $1,307 million, up 17.2% YoY, with EBITDA up 10.1% to $577 million and diluted EPS per ADS of $2.67. Digital businesses scaled sharply, with digital revenue up 45.9% to $355 million (27.2% of group revenue) and digital EBITDA up 54.5% at a 36.0% margin; financial services revenue grew 54.2%. Management raised the midpoint of 2026 guidance, now 16%-18% revenue growth and 10%-12% EBITDA growth, and continued capital returns: 1.55 million ADSs repurchased for $112.5 million with 1.08 million cancelled. Headline free cash flow fell 33.8% YoY to $201 million, though the company says FCF grew 91.8% excluding asset disposal proceeds; leverage stands at 1.05x with $2,033 million in cash.

•3d ago

VEON’s Banglalink Launches Mukto Pay, Expanding Digital Financial Services in Bangladesh

VEON's Bangladesh unit Banglalink commercially launched Mukto Pay, a digital payments platform available to users of any mobile operator, following an August 2026 PSP licence from Bangladesh Bank. Customers can pay online at more than 9,500 merchants, with interoperable Bangla QR planned next; Bangladesh becomes the fourth market in VEON's digital financial services footprint. The launch sits under VEON's 'Invest in Bangladesh NOW' initiative, backed by a USD 250 million anchor investment targeting USD 1 billion in total FDI, and follows regulatory approval for a planned digital bank with Square Group.

•5d ago

VEON’s Kyivstar Acquires GigaCloud, Expanding Cloud Services for Ukrainian Businesses

Kyivstar (Nasdaq: KYIV), VEON's Ukrainian digital operator, is acquiring GigaCloud, one of Ukraine's leading cloud infrastructure providers, in a deal valued at up to $50 million. GigaCloud serves more than 1,800 enterprise customers and operates five data centers across Ukraine and Poland; it will become a Kyivstar subsidiary after closing. The acquisition accelerates Kyivstar's pivot from telecom operator toward a digital ecosystem spanning cloud, AI, cybersecurity, and enterprise data services, building on recent acquisitions including Uklon, E-wings, Shtorm, and digital health assets.

•11d ago

VEON Advances Buyback Program, Cancels Shares

VEON confirmed the cancellation of 26,951,230 common shares, equal to approximately 1.5% of its total issued shares and 1,078,049 ADSs. The cancellation is part of the ongoing buyback program announced September 23, 2026 to repurchase and cancel 3.9% of VEON's outstanding shares. The cancellation reduces share count and is accretive to remaining holders, though it is an execution update rather than new capital-return news.

•20d ago

JazzCash Wins Silver Award for Innovation in InsurTech at Money20/20 USA 2026

JazzCash, VEON's Pakistani digital financial services subsidiary, won the Silver Award in the Banking – InsurTech category at Money20/20 USA 2026 for its Sehat+ health-protection platform. Sehat+ now serves 2.38 million active unique insurance customers and has issued 27.7 million policies, targeting Pakistan's informal workforce with paperless claims. This is JazzCash's second consecutive year winning a Silver Award at Money20/20 USA, and the platform was also a finalist in the Strategic Alliance & Partnership category for its government welfare disbursement work.

•21d ago

VEON Accelerates Telecom Market Consolidation in Uzbekistan, a Market of Nearly 40 Million People

VEON has agreed to acquire 100% of Rubicon Wireless, the Uzbekistan mobile operator trading as Perfectum, for total consideration of approximately $207 million including ~$93 million of assumed debt. The deal adds 115 MHz of spectrum across the 850 MHz and 3,800 MHz bands plus a 5G standalone network built on Nokia equipment, boosting Beeline Uzbekistan's spectrum holdings by roughly 50%. Regulatory approvals are already obtained and completion is expected by the end of October, funded from VEON's existing cash. The combination should generate capex/opex synergies and support 5G and fixed wireless access rollouts in a core growth market of nearly 40 million people.

•21d ago

In less than one year, Starlink Mobile Connects 11 Million People Across VEON’s Three High Growth Markets 

Kyivstar's parent VEON and Starlink Mobile announced that more than 11 million unique customers have connected to the direct-to-device satellite service across Ukraine, Kazakhstan and Bangladesh within a year of the November 2025 agreement. Kyivstar launched Starlink Mobile on 24 November 2025 as the first such service in Europe, free to its roughly 15.5 million 4G smartphone users; Bangladesh's Banglalink launched on 9 October 2026 to 20 million customers. VEON says the service could ultimately reach more than 40 million people across its footprint. No revenue figures are disclosed — the service is free during launch, so the milestone supports competitive differentiation and subscriber retention rather than near-term monetization.

•21d ago

VEON Brings Starlink’s Satellite-to-Mobile Service to South Asia with Banglalink launch

VEON's Bangladeshi operator Banglalink launched a Starlink-powered satellite-to-mobile service, making Bangladesh the first South Asian country with the technology. The service requires only a 4G phone and Banglalink SIM, accessed via the MyBL super app with RYZE support coming, and targets connectivity during disasters and outages beyond tower coverage. It follows similar Starlink DTC launches by VEON units Kyivstar in Ukraine (2025) and Beeline Kazakhstan (September 2026), reinforcing VEON's satellite-plus-terrestrial resilience strategy across its five-country, 550-million-consumer footprint.

•1mo ago

VEON’s Beeline Kazakhstan Becomes First Operator in Country to Launch Starlink's Satellite to Mobile Service

VEON's Beeline Kazakhstan became the first operator in Kazakhstan to launch Starlink's direct-to-device satellite-to-mobile service, connecting smartphones in areas without terrestrial coverage. The service is integrated into Beeline's Janymda super app and is free during the initial period, targeting remote areas, highways, and disaster-affected regions. The launch follows a November 2025 memorandum with Kazakhstan's digital ministry and Starlink plus December trials, and strengthens VEON's premium positioning in its Kazakhstan market.

•1mo ago

VEON and Banglalink Convene Global Investors in New York to Advance “Invest in Bangladesh NOW!”

VEON and its Bangladesh subsidiary Banglalink hosted the inaugural investor symposium for the 'Invest in Bangladesh NOW!' initiative in New York, on the sidelines of the UN General Assembly. The initiative is a proposed public-private partnership with the Government of Bangladesh, anchored by VEON's USD 250 million commitment and targeting USD 1 billion in total foreign direct investment into the country's digital economy. Attendees included Bangladesh's Finance Minister, the US Department of State, the UAE government, and institutions including BlackRock, Rothschild, the IFC and the World Bank. The event also highlighted Banglalink's regulatory approval to launch Starlink Direct-to-Cell service — a South Asia first — a new VEON-backed digital bank license with Square Group, and the launch of the Mukto Pay digital payments platform.

•1mo ago

VEON and Square Group Receive Bangladesh Bank Approval for Digital Bank License

A VEON Digital Financial Group and Square Group joint venture received approval from Bangladesh Bank for a Digital Bank license, marking VEON's entry into full-scale digital banking in Bangladesh. The license builds on subsidiary Banglalink's Payment Service Provider license and its Mukto Pay payments service, under VEON's "Invest in Bangladesh NOW!" framework with a US$250 million initial anchor investment committed toward mobilising US$1 billion in FDI. VEON Digital Financial Group already serves 59 million active financial services customers across Pakistan, Kazakhstan and Uzbekistan as of Q2 2026, with Bangladesh set to expand that footprint — though the new bank is not yet operational.

•1mo ago

VEON increases Share Buyback and Accelerates share cancellations

VEON launched a new buyback program to repurchase 3.9% of outstanding shares — 72.5 million shares or 2.9 million ADSs equivalent — worth approximately USD 200 million at the September 22 reference price of USD 69.37 per ADS. The program upgrades the prior USD 100 million minimum annual target and equals 27.5% of trailing-twelve-month Equity Free Cash Flow, a 5.5% yield on the stock; all acquired shares will be cancelled. LetterOne has agreed to sell proportionately up to 32,957,830 shares into the program, and VEON has repurchased 4.46 million ADSs (USD 227.6 million) cumulatively since August 2024.

•1mo ago

JazzCash Named Finalist for Digitising Government Welfare Disbursement and Insurtech at The Money Awards 2026

JazzCash, VEON's Pakistani digital financial services subsidiary, was named a finalist in two categories at The Money Awards 2026: digitising government welfare disbursement and InsurTech. Its BISP wallet transfers alone delivered PKR 20 billion to 1.48 million beneficiaries, and 2026 government-partnership disbursements exceeded PKR 100 billion across more than 3 million beneficiaries. The Sehat+ health-insurance platform serves 2.38 million active unique customers with 27.7 million policies issued to date; winners will be announced at Money20/20 USA in Las Vegas on October 18, 2026.

•1mo ago

VEON and Beeline Kazakhstan Sign Payments Cooperation Memorandum with National Bank of Kazakhstan

VEON's Digital Financial Group and Beeline Kazakhstan signed a five-year Memorandum of Cooperation with the National Bank of Kazakhstan to explore digital payment services, including payment and money-transfer processing and settlement via the National Payment Corporation's infrastructure. The memorandum is a framework only — it does not authorize the launch of new financial services, and any projects remain subject to regulatory, legal and technical review. Beeline Kazakhstan separately intends to pursue first-category payment organization status, pending all required approvals. The initiative advances VEON's DO1440 strategy of embedding financial services into customers' daily digital lives across its markets, a stated central pillar of the group's growth ambition.

•1mo ago

VEON's Banglalink Receives Bangladesh Bank Approval to Launch Digital Payment Service Mukto Pay

VEON's subsidiary Banglalink received a Payment Service Provider licence from Bangladesh Bank to launch its digital payment service, Mukto Pay, targeting a commercial debut in September 2026. The launch supports a proposed public-private partnership where VEON committed an initial $250 million investment, aiming to help attract $1 billion in foreign direct investment to the country's digital infrastructure. VEON reported strong momentum in its digital services segment, with Q2 digital revenue rising 53.6% year-over-year to $342 million, driven in part by financial services contributions of $151 million.

•2mo ago

VEON's Banglalink Demonstrates the Power of Digital Ecosystems with Record FIFA World Cup 2026 Engagement

VEON's Banglalink subsidiary reported record engagement for its Toffee streaming platform during the FIFA World Cup 2026, accumulating 2 billion live watch minutes and 20 million monthly active users. The tournament served as a major advertising opportunity, with 25 brands partnering and 80% of ad inventory sold prior to kick-off. VEON's CEO highlighted the event as validation of the company's strategy to transform connectivity into digital experiences.

•3mo ago

JazzCash Named Among the World's Top Fintech Companies by CNBC and Statista

JazzCash, a subsidiary of VEON, was recognized by CNBC and Statista as one of the World's Top Fintech Companies in the Payments category. The digital financial platform serves over 60 million customers and processed approximately $59.7 billion in gross transaction value in the year ending March 2026. Additionally, JazzCash issues over 200,000 digital loans daily and supports a network of more than 1.7 million Raast-enabled QR merchants.

•3mo ago

VEON and JazzWorld Acquire TPL Insurance to Expand Digital Insurance Access Across Pakistan

VEON's subsidiary Jazz International Holding Limited completed the acquisition of a 76.33% controlling stake in TPL Insurance for approximately PKR 4.55 billion (~USD 16.4 million). The deal integrates TPL Insurance, an AA-rated digital insurer with over 277,000 policies, into the JazzWorld ecosystem which serves more than 100 million customers alongside JazzCash and Mobilink Bank. While the transaction is not expected to have a material impact on VEON's consolidated financial position, management highlighted meaningful long-term growth potential in Pakistan's underpenetrated insurance market.

•3mo ago

VEON Group CEO Meets with Kazakh President Tokayev, Reaffirms Commitment to ‘Digital Qazaqstan Strategy’

VEON Group CEO Kaan Terzioglu met with Kazakh President Kassym-Jomart Tokayev to reaffirm the company's support for the Digital Qazaqstan Strategy and discuss infrastructure investments. The company highlighted progress on a hybrid Direct to Cell solution developed with Starlink and the Ministry of AI and Digital Development, targeting 100% country coverage with availability starting in August 2026. Additionally, Beeline Kazakhstan is constructing a Tier III Hyper Cloud data center in Almaty, slated to go live by the end of 2026 to support sovereign cloud and AI compute needs.

•4mo ago

VEON and Mastercard Join Forces to Accelerate Accessibility of Financial Services

VEON and Mastercard are partnering to expand accessible financial services across Ukraine, Kazakhstan, Pakistan, and Uzbekistan. The collaboration combines VEON's digital platforms with Mastercard's network to develop solutions like AI-powered credit scoring and digital wallets. Pilots are set to begin in Ukraine and Kazakhstan, targeting underserved consumers and small businesses to drive financial inclusion.

•4mo ago

VEON's USD 250 Million Anchor Investment Aims to Attract USD 1 Billion for Bangladesh

VEON committed an initial $250 million investment to Bangladesh, anchoring a new public-private partnership initiative aimed at attracting a total of $1 billion in foreign direct investment to the country. The 'Invest in Bangladesh NOW' framework focuses on building a digital finance ecosystem, next-generation connectivity, and AI-powered solutions to support financial inclusion. Through its subsidiary Banglalink, VEON plans to expand digital services including the MyBL super app, Toffee entertainment platform, and RYZE AI brand.

•4mo ago

Kyivstar Signs MoU with Ukraine’s Ministry of Economy to Accelerate AI Infrastructure and Digital Growth

Kyivstar, a VEON subsidiary, signed a Memorandum of Understanding with Ukraine’s Ministry of Economy to explore the development of a sovereign, AI-ready data center in the country. The project aims to enhance technological sovereignty by keeping critical data in-country for sectors like defense and finance, with Kyivstar intending to fund the investment within its existing capital expenditure plans. Announced at the Ukraine Recovery Conference, this collaboration supports VEON's AI1440 strategy and aims to catalyze broader digital economic growth in Ukraine.

•4mo ago

MoU Marks Major Milestone Toward Enabling Ukrainians to Invest in Nasdaq-Listed Kyivstar

Kyivstar, a subsidiary of VEON, signed a Memorandum of Understanding with the National Securities and Stock Market Commission of Ukraine to explore enabling domestic investors to access Kyivstar's Nasdaq-listed shares. The MoU establishes a framework to assess the regulatory and legal requirements for connecting Ukrainian investors to U.S.-listed Ukrainian companies through local brokerage channels. Executives highlighted the initiative as a milestone for integrating Ukraine's capital markets with global standards and providing citizens opportunities to invest in local businesses.

•4mo ago

Beeline Uzbekistan and DataVolt Partner to Advance Central Asia’s Digital Infrastructure

Beeline Uzbekistan, a subsidiary of VEON, signed MoUs with DataVolt to become a major tenant at the TAS-1 data center in Tashkent and explore a potential facility in Bukhara. The partnership aims to enhance data sovereignty and support Uzbekistan's Digital 2030 strategy by securing local infrastructure for cloud and AI services. Management emphasized that the collaboration lays the foundation for Uzbekistan to become a digital and AI hub for Central Asia.

•4mo ago

For Kyivstar Customers in Ukraine, Out of Coverage No Longer Means Out of Touch

VEON announced that its Kyivstar subsidiary has launched satellite-to-mobile data services in Ukraine, enabling customers to use apps without terrestrial coverage or during power outages. The service, powered by Starlink Mobile, initially supports Viber, WhatsApp, and Google Maps, allowing for messaging and navigation via satellite connection. Management plans to expand the offering to additional digital services, including the Helsi e-health platform and Uklon ride-hailing app, as the technology develops.

•4mo ago

VEON's JazzCash and Mobilink Bank Bring Government Treasury Bills to Smartphones, Democratising Investment for Millions of Pakistanis

VEON's JazzCash and Mobilink Bank introduced Government Treasury Bills directly through the JazzCash app, allowing investments starting from PKR 5,000. The initiative, developed with the State Bank of Pakistan and Ministry of Finance, aims to democratize investment for the company's 60 million registered users. JazzCash processed more than PKR 16.8 trillion (approx. USD 59.7 billion) in gross transaction value in the year to March 2026. The launch targets an expansion of formal investment access beyond the 1.4 million existing participants in Pakistan's equities, mutual funds, and commodities markets. Plans to extend access to longer-maturity Treasury Bills are already underway, with Mobilink Bank acting as the regulated custodian.

•4mo ago

Kyivstar’s Uklon Launches Marketplace, Starting with Flower Delivery

VEON announced the launch of Uklon Store, a new in-app commerce marketplace starting with flower delivery in Kyiv. The service leverages Uklon’s existing 5.1 million active users and driver network to expand beyond ride-hailing into everyday goods delivery. This move supports VEON’s strategy to deepen engagement across its digital ecosystem and open new revenue streams for its Kyivstar subsidiary.

•4mo ago

VEON’s Banglalink Brings Every World Cup 2026 Match to Football Fans in Bangladesh on Toffee

VEON’s subsidiary Banglalink has secured the streaming rights for the 2026 FIFA World Cup, bringing all 104 matches to fans in Bangladesh via its Toffee platform. The deal builds on strong prior engagement, with over 15 million viewers tuning in for the 2022 final, and positions Toffee as the leading home for live sport in the country. Access will be available through subscription packages on Toffee, the MyBL Super App, and the RYZE lifestyle brand, as well as via internet packs for existing customers.

•4mo ago

VEON’s Kyivstar to Expand Digital Mobility Ecosystem with Acquisition of E-wings by Uklon

VEON’s subsidiary Kyivstar is expanding its digital mobility ecosystem through Uklon’s acquisition of electric scooter operator E-wings. The deal values E-wings at approximately $2.2 million (UAH 97.6 million) for 100% of its shares, adding a fleet of 3,000 scooters across 11 Ukrainian cities to Uklon’s platform. This move integrates micromobility with Uklon’s existing ride-hailing, delivery, and travel services, reinforcing its position in Ukraine’s multimodal and autonomous mobility market.

•5mo ago

VEON Closes USD 1.4 Billion Bond Offering, Refinancing 2027 Notes Ahead of Schedule

VEON closed a $1.4 billion dual-tranche senior unsecured notes offering, its largest in over a decade, to refinance debt maturing in 2027 ahead of schedule. The offering consists of $700 million in 6.95% notes due 2031 and $700 million in 7.45% notes due 2033, both rated BB- by Fitch and S&P. This transaction extends VEON's average debt maturity to over four years on a pro forma basis, demonstrating strong investor confidence and reducing near-term refinancing risk.

•5mo ago

VEON’s Kyivstar and Uklon Launch Ukraine’s First Live Testing of Autonomous Vehicle Technology

VEON announced that its subsidiary Uklon has launched Ukraine’s first live testing of autonomous vehicle technology, utilizing LiDAR, onboard sensors, and remote operations infrastructure. The pilot is conducted in partnership with Boryspil International Airport and aligns with Ukraine’s Digital Development Strategy to 2030, positioning Uklon as a leader in the country’s future robotaxi ecosystem. VEON highlighted that this initiative demonstrates the return on its $1.3 billion investment in Ukraine’s digital infrastructure between 2023 and 2026, validating its strategy of transforming connectivity into next-generation services.

•5mo ago

VEON’s Kyivstar Expands Renewable Energy Portfolio with Acquisition of Six Solar Power Plants

VEON’s subsidiary Kyivstar completed the acquisition of six solar power plants in Ukraine’s Lviv region for $80.8 million, adding 105 MW of installed capacity. The acquired assets generated UAH 682 million in revenue and UAH 596 million in EBITDA in FY 2025, expanding Kyivstar’s total solar portfolio to 118 MW. This move allows Kyivstar to hedge approximately 30% of its electricity consumption by selling generated power to the national grid at market prices, supporting operational efficiency amid rising energy costs.

•5mo ago

VEON Delivers Strong Start to 2026 | 1Q26: Revenue +17.0%, EBITDA +17.7%, Digital Surges +57.7% to 25.2% of Total Revenue

VEON reported a strong start to 2026 with Q1 revenue up 17.0% YoY to $1.201 billion and EBITDA rising 17.7% to $517 million. Digital revenues surged 57.7% to $303 million, now representing 25.2% of total revenue, with a 34.6% margin. VEON revised its 2026 revenue guidance upward to 11-14% YoY, from the previous range of 9-12%, while maintaining EBITDA growth guidance of 7-10%. The company has repurchased 959.3K ADSs for $49.6 million under its current buyback program, and a total of 3.1 million ADSs for $149.6 million since August 2024.

•5mo ago

VEON’s Kyivstar Authorized to Resell Starlink for Businesses & Enterprises in Ukraine

VEON's subsidiary Kyivstar expanded its partnership with Starlink to resell broadband internet services and hardware for businesses and public sector institutions in Ukraine. The agreement allows Kyivstar to offer a fully integrated, multi-layer connectivity stack, making it the sole provider in Ukraine capable of combining satellite and terrestrial networks. Management views this as a milestone in Kyivstar's transformation into an asset-light digital operator, enhancing business resilience and operational continuity for Ukrainian enterprises.

•6mo ago

VEON and Kyivstar Fulfill Commitment to Invest USD 1 Billion in Ukraine over 2023-2027 Ahead of Schedule

VEON and its subsidiary Kyivstar fulfilled their 2023-2027 investment commitment to Ukraine ahead of schedule, investing a total of USD 1.3 billion, which is 30% above the original USD 1 billion target. The capital deployment focused on strengthening connectivity backbone resilience, including the introduction of Starlink Mobile direct-to-device satellite connectivity and significant backup power investments. Additionally, Kyivstar expanded its digital ecosystem through strategic acquisitions, including ride-hailing platform Uklon, digital healthcare platform Tabletki.ua, and solar company SUNVIN 11.

•6mo ago

VEON Boosts Accessibility for Investors by Waiving Depositary Service Fees on American Depositary Shares

VEON announced that BNY Mellon will waive depositary service fees on its American Depositary Shares effective January 1, 2026, reducing the cost of ownership by $0.05 per ADS annually. This initiative accompanies a new capital allocation policy targeting the return of at least $100 million to shareholders annually through share buybacks. Management characterized the moves as a response to investor dialogue while continuing its strategy to transform into a consumer and enterprise service company across five markets.

•6mo ago

VEON 2025 Integrated Annual Report: Record Digital Growth, Sovereign AI and Kyivstar Listing Define a Transformative Year

VEON reported robust 2025 full-year results, with revenue increasing 9.9% year-on-year to $4,399 million and EBITDA rising 18.8% to $2,009 million. The company achieved a key milestone as digital service users surpassed connectivity users for the first time, reaching 205.8 million in the fourth quarter. Strategic highlights included the listing of subsidiary Kyivstar on the Nasdaq, marking the first Ukrainian investment opportunity on a U.S. exchange. VEON also expanded its digital portfolio through acquisitions of Uklon and Tabletki.ua and a partnership with Starlink. The board authorized a $100 million share buyback program and adopted a capital allocation policy targeting the return of at least $100 million to shareholders annually. These moves reflect confidence in the group's financial position and its evolution into a high-growth digital operator.

•6mo ago

VEON’s Banglalink to Bring Starlink Mobile to Customers in Bangladesh

VEON’s Banglalink subsidiary signed an agreement with Starlink Mobile to integrate direct-to-device satellite connectivity in Bangladesh, planning to launch messaging services in 2026 pending regulatory approvals. This expansion marks the third market for the VEON-Starlink partnership, following the nationwide rollout at Kyivstar in Ukraine, which has connected over 5 million unique customers, and testing by Beeline Kazakhstan. The initiative targets a densely populated market of over 175 million people, extending VEON’s satellite framework across its five operating markets which cover more than half a billion people.

•6mo ago