VEON Exits Russia for $2.1 Billion
Ticker: VEON · Form: 6-K · Filed: Aug 30, 2024 · CIK: 1468091
Sentiment: neutral
Topics: divestiture, russia, telecom
TL;DR
VEON sold its Russian business for $2.1B, officially out of Russia.
AI Summary
VEON Ltd. announced on August 30, 2024, that it has completed the sale of its operations in Russia to Sky Digital Holding Ltd. for a total consideration of $2.1 billion. This transaction marks VEON's exit from the Russian market.
Why It Matters
This significant divestiture allows VEON to streamline its operations and focus on its remaining markets, potentially improving its financial performance and strategic direction.
Risk Assessment
Risk Level: medium — The sale of a major market like Russia can introduce financial and operational risks during the transition and integration of remaining businesses.
Key Numbers
- $2.1 billion — Sale Price (Total consideration for the sale of Russian operations.)
Key Players & Entities
- VEON Ltd. (company) — Seller
- Sky Digital Holding Ltd. (company) — Buyer
- $2.1 billion (dollar_amount) — Sale consideration
- August 30, 2024 (date) — Announcement date
FAQ
What was the total consideration for the sale of VEON's Russian operations?
The total consideration for the sale of VEON's Russian operations was $2.1 billion.
Who acquired VEON's operations in Russia?
Sky Digital Holding Ltd. acquired VEON's operations in Russia.
On what date did VEON announce the completion of the sale of its Russian operations?
VEON announced the completion of the sale of its Russian operations on August 30, 2024.
What is the significance of this transaction for VEON?
This transaction signifies VEON's exit from the Russian market.
What is VEON Ltd.'s principal executive office address?
VEON Ltd.'s principal executive office is located at Claude Debussylaan 88, 1082 MD, Amsterdam, the Netherlands.
Filing Stats: 223 words · 1 min read · ~1 pages · Grade level 9.7 · Accepted 2024-08-30 07:35:49
Filing Documents
- form6-kdisclosureofh12024f.htm (6-K) — 18KB
- veonpublishes2q24unaudit.htm (EX-99.1) — 4KB
- veonpublishes2q24unaudit001.jpg (GRAPHIC) — 176KB
- veonpublishes2q24unaudit002.jpg (GRAPHIC) — 50KB
- 0001468091-24-000063.txt ( ) — 335KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. VEON LTD. (Registrant) Date August 30, 2024 By s A. Omiyinka Doris Name A. Omiyinka Doris Title Group General Counsel