VEON Ltd. (VEON) Form 6-K — Nov 6, 2026
VEON announced an agreement to acquire a 33.75% equity stake with control rights in Jungo TV, a U.S. media company whose portfolio includes the All Women's Sports Network co-founded with Whoopi Goldberg. Consideration comprises $5 million in cash payable on signing plus approximately 2.35 million existing VEON-held Kyivstar (NASDAQ: KYIV) shares valued at an $18.00 reference price, with no new Kyivstar shares issued and a staged 12-month lock-up on the consideration shares. VEON plans to expand Jungo TV and AWSN programming across Pakistan, Bangladesh, Uzbekistan, Kazakhstan and Ukraine, aiming to boost digital revenue from subscriptions, advertising and licensing.
Key figures
- Deal Value Usd
- $5 million in cash plus approximately 2.35 million Kyivstar shares at $18.00 reference price (~$42.3 million total consideration)
- Lockup period
- 12 months staged lock-up
- Expected close
- 2027
- Equity stake percent
- 33.75%
- Kyivstar reference price
- $18.00 per share
- Kyivstar shares transferred
- 2350000
- Jungo distribution countries
- 65 countries
AI analysis
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