Global digital communications operator VEON, headquartered in the Netherlands, has announced the completion of its exit from Russia and the sale of its Russian assets to VimpelCom. The terms of the agreement do not provide for a buyback option, meaning that the completion of operations in the Russian market is complete and final for VEON.
“After completing a long series of legal procedures, our 100% shareholder VEON is putting an end to its relations with the Russian telecom market. This will mean strengthening the company’s development strategy in six other markets, including Ukraine,” said Kyivstar President Alexander Komarov.
In particular, according to him, over the next three years, VEON plans to invest $600 million in Ukraine, which will be used to rebuild the telecom network and develop digital services and new mobile technologies.
Komarov emphasized that Kyivstar operates as usual and has already invested UAH 8.2 billion in the development of the country’s telecom market, paid UAH 15.2 billion in taxes to the state, and provided over UAH 1.4 billion in support to government agencies, the military, security and law enforcement agencies, including bonuses and services at no additional cost worth UAH 577 million since the beginning of the full-scale Russian invasion.
In addition, Kyivstar is currently preparing its network for possible power outages, for which it has invested UAH 988 million. By the end of 2023, 110 thousand new batteries will be installed at Kyivstar’s base stations.
