reports
- Carole Braudeau
- Carole Braudeau
- Chris Hoare
Global EM Telcos & Towers Another decent month: NSR GEM Top-10 July ‘...
Our picks largely had a slightly slower month in June, with VEON seeing sharp profit taking, but a recovery in some of the weaker stocks such as LILAK offset to continue to see overall valuations rise. We continue to see the EM Telco cycle in an upswing. This note also includes key news & other thoughts, to try to help investors generate alpha within the EM Telco space. In our view, our picks remain heavily undervalued, so we make no changes to the list.
- Carole Braudeau
- Carole Braudeau
- Chris Hoare
South Korean Telcos Q1 25 review: Peers expected to benefit near-term...
Margins are improving as operators execute on cost discipline and shift away from less profitable operations. As capex intensity falls, cash flow is rising and so therefore are dividends or buybacks; LG is expected to announce a buyback in 2H. Thus we are confident of further re-rating and our recent trip reinforced this view. Following the data breach at SKT, near term results are likely to favour KT and LG Uplus. KT remains our preferred pick and is one of our top picks in GEM Telcos.
- Chris Hoare
Singtel (Buy, S$5.5 from S$4.6, +41%) What will it look like when the...
Following a week-long NDR with Singtel’s CFO, Arthur Lang, and the new CEO of Optus, Stephen Rue, in Europe we revisit forecasts. We came away with the view that the transformation of Singtel remains under-appreciated. Singtel is in a sharp upswing, and we expect the stock to trade above $5 in the next 12 months.
VEON’s Kyivstar Advances Direct-to-Cell Services With Starlink Integra...
VEON’s Kyivstar Advances Direct-to-Cell Services With Starlink Integration and Regulatory Approval for Testing Dubai and Kyiv, June 18, 2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), today announces that Kyivstar, its digital operator in Ukraine, has received regulatory approval to conduct testing of Starlink Direct-to-Cell (D2C) services from the Ukrainian National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum and the Provision of Postal Services (NCEC). Today’s regulatory approval for field testing follows...
Kyivstar and Ministry of Digital Transformation of Ukraine sign Cooper...
Kyivstar and Ministry of Digital Transformation of Ukraine sign Cooperation Memorandum to Launch National Large Language Model for Ukraine Dubai and Kyiv, June 17, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator, announces today that Kyivstar, VEON’s digital operator in Ukraine, has joined forces with Ukraine’s Ministry of Digital Transformation to develop Ukraine’s first national large language model (“LLM”) trained on Ukrainian-language data. The cooperation memorandum builds on VEON’s and Kyivstar’s pledge to invest USD 1 billion to rebuild Ukraine’s digital infrastructure over...
Indian Telcos Q4 FY25 review: Stay constructive
India’s mobile sector sustained mid-teen growth again, though we expect a slowdown to high single digits from 2QFY25 onwards once last July’s tariff increase is lapped. Margin expansion remains a theme too. We stay constructive on India with Bharti Airtel as our preferred pick, but would continue to see Singtel as having more upside.
VEON Appoints Vitaly Shmakov as Acting General Counsel
VEON Appoints Vitaly Shmakov as Acting General Counsel Dubai, June 17, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), is pleased to announce that it has appointed Vitaly Shmakov as the Acting General Counsel, based in VEON’s headquarters in the Dubai International Financial Center, effective July 1, 2025. Vitaly Shmakov is currently serving as Group Director of M&A and Strategic Transactions at VEON. Since joining the Company in 2016, he has held various roles, including Deputy General Counsel for Corporate, M&A and Strategic Transactions; Associate G...
Omiyinka Doris Chooses to Step Aside from VEON General Counsel Positio...
Omiyinka Doris Chooses to Step Aside from VEON General Counsel Position Dubai, June 17, 2025: VEON Ltd. (Nasdaq: VEON; the “Company” or “VEON”), a global digital operator, today announces that Omiyinka Doris has chosen to step aside from her role as Group General Counsel of the Company effective July 1, 2025. Ms. Doris will continue as a strategic advisor to the Group Chief Executive Officer and will remain based in Amsterdam. Ms. Doris has worked with VEON for a decade, first as Deputy General Counsel, SEC/Disclosure, Finance and Governance, then as Acting Group General Counsel and most r...
- Chris Hoare
- Chris Hoare
VEON (Buy, TP: $65/ADR, +70%) Share Buyback restarted, good buying op...
Following a sell-off which culminated in an 18% decline on Friday and has taken the stock down by 30% in a month, VEON has announced it is starting the 3rd tranche of its $100m share buyback. VEON remains a compelling BUY for us with a US$ 65/ADR price target.
VEON Announces USD 35 Million Share Buyback
VEON Announces USD 35 Million Share Buyback Announcement marks the third phase of USD 100 million share buyback program Dubai, June 16, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), announces that it will shortly commence the third phase of its previously announced share buyback program with respect to the Company’s American Depositary Shares (“ADSs”). This third phase of the buyback will be in the amount of up to USD 35 million. The third phase of the share buyback program is being launched after the successful completion of the second phase on Ma...
- Chris Hoare
Global EM Telcos M&A Cycle in-bound; buy the targets
With sentiment, leverage and cash flow all improving for EM Telcos we think we are approaching the point of the cycle where M&A is going to become more prevalent, and shift from bearish (in-market consolidation), to bullish (out of footprint). Investors should consider building portfolios based on likely targets. Who are they?
VEON Progresses in Kyivstar Group’s Nasdaq Listing with the Public Fil...
VEON Progresses in Kyivstar Group’s Nasdaq Listing with the Public Filing of Registration Statement on Form F-4 Dubai and Kyiv, June 5, 2025 – VEON Ltd. (Nasdaq: VEON) (“VEON”), a global digital operator, announces the public filing of a registration statement on Form F-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”) in connection with the listing of Kyivstar Group Ltd. (“Kyivstar Group”), the parent company of Ukraine’s leading digital operator JSC Kyivstar, on the Nasdaq Stock Market LLC (“Nasdaq”). This filing represents a milestone in VEON’s pl...
Kyivstar Group Reports First Quarter 2025 Financial Results in Conjunc...
Kyivstar Group Reports First Quarter 2025 Financial Results in Conjunction with its Nasdaq Listing Process Total operating revenue reaches USD 255 million or UAH 10.6 billion, up 37.1% year-on-year in USD and 49.6% in local currency termsProfit for the period amounts to USD 44 million, up 22.2% year-on-year in USD and 33.7% in local currency terms, with a profit margin of 17.3%Adjusted EBITDA1 reaches USD 140 million, up 50.5% year-on-year in USD and 64.6% in local currency terms, with an adjusted EBITDA margin1 of 54.9% Completes acquisition of Uklon, Ukraine’s leading ride-hailing busi...
Singapore Telecommunications Ltd: 1 director
A director at Singapore Telecommunications Ltd bought 150,000 shares at 3.873SGD and the significance rating of the trade was 93/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
Empowering Kazakh Students: VEON’s Beeline Kazakhstan introduces AI-ba...
Empowering Kazakh Students: VEON’s Beeline Kazakhstan introduces AI-based Tutor powered by KazLLM Dubai and Astana, June 3, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” and together with its subsidiaries, the “Group”), is pleased to announce the launch of “AI Tutor”, a collaboration of Beeline Kazakhstan and Qazcode. AI Tutor is an AI-powered learning assistant designed to support children’s and adults’ learning experience in Kazakh language. Built on the locally developed KazLLM large language model, AI Tutor represents a step in digital inclusion and educational acc...
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