reports
Ahead of Its Historic Listing on Nasdaq, Kyivstar Group Completes Bus...
Ahead of Its Historic Listing on Nasdaq, Kyivstar Group Completes Business Combination with Cohen Circle Kyiv, New York, Dubai, and Philadelphia – 14 August 2025 - VEON Ltd. (Nasdaq: VEON) (“VEON”), a global digital operator and parent company of Ukraine’s leading digital operator JSC Kyivstar (“Kyivstar”), and Cohen Circle Acquisition Corp. I (Nasdaq: CCIR) (“Cohen Circle”), a special purpose acquisition company, have today closed the previously announced business combination between Kyivstar Group Ltd. and Cohen Circle (the “Business Combination”), which will make Kyivstar Group Ltd. a...
VEON Completes Sale of Beeline Kyrgyzstan
VEON Completes Sale of Beeline Kyrgyzstan Dubai, August 13, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), announces that it has completed the sale of its 50.1% indirect stake in Sky Mobile LLC, operating under the Beeline brand in Kyrgyzstan, to Open Joint Stock Company “Eldik Bank” (“Eldik Bank”). The transaction was completed following receipt of all necessary regulatory approvals. This transaction follows VEON’s previously announced strategy to simplify its group structure and optimize its portfolio, focusing on countries with larger populations and with opportu...
VEON’s Kyivstar Delivers First Messages via Starlink in Direct to Cel...
VEON’s Kyivstar Delivers First Messages via Starlink in Direct to Cell Satellite Connectivity Test in Ukraine Dubai and Kyiv, August 12, 2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator, today announces that Kyivstar, its digital operator in Ukraine, has successfully conducted a test of satellite and terrestrial network integration using Starlink Direct to Cell technology. This is the first field test of of Starlink Direct to Cell in eastern Europe. During the pilot in the Zhytomyr region, Kyivstar CEO Oleksandr Komarov and Ukraine’s Minister of Digital Transformation, Mykhail...
- Chris Hoare
VEON (Buy, TP: $65/ADR, +24%) Q2 25: Tracking well, guidance lifted
VEON delivered another round of decent growth across almost all geographies, driving 6% revenue growth and 13% EBITDA growth in US$. As a result, it lifted local currency revenue and EBITDA guidance by 1%, a function of the acquisition of Uklon rather than underlying upgrades.
VEON 2Q25 Earnings Release: Direct Digital Revenues Up 57% YoY. Solid ...
VEON 2Q25 Earnings Release: Direct Digital Revenues Up 57% YoY. Solid Execution, Strong Results VEON 2Q25 Earnings Release: Direct Digital Revenues Up 57% YoY. Solid Execution, Strong Results Dubai, August 7, 2025 VEON 2Q25 Highlights Total revenue growth of 5.9% YoY to USD 1,087 million (11.2% YoY in local currency terms) EBITDA growth of 13.2% YoY to USD 520 million (19.6% YoY in local currency terms) Direct digital revenue growth of 56.6% YoY to USD 180 million (+62.4% YoY in local currency terms), representing 16.5% of revenues for quarterTotal cash and cash equivalents and deposits ...
- Chris Hoare
Global EM Telcos & Towers Another monster month: NSR GEM Top-10 Augus...
Our top picks performed very strongly again in July, marked by a strong recovery from VEON, Millicom and IHS Towers alongside continued momentum at Singtel and Airtel Africa. Heading into earnings season, 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 undervalued, so we make no changes to the list.
VEON’s Beeline Kazakhstan Opens New Office in Almaty Supporting the Di...
VEON’s Beeline Kazakhstan Opens New Office in Almaty Supporting the Digital Economy of Kazakhstan Almaty, July 28, 2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” and together with its subsidiaries, the “Group”), today announces the launch of Beeline Kazakhstan’s new home base in Almaty, the business hub of Kazakhstan. The new office space will be home to Beeline Kazakhstan’s telecom, AI and digital services teams in a single, purpose-built environment, designed to foster cross-functional collaboration among teams and accelerating innovation. It will house around 500 pr...
VEON to Release 2Q25 Earnings Update on August 7, 2025
VEON to Release 2Q25 Earnings Update on August 7, 2025 VEON to Release 2Q25 Earnings Update on August 7, 2025 Dubai, July 23, 2025 – VEON Ltd. (NASDAQ: VEON), a global digital operator, today confirms that the Group will release its selected financial and operating results for the second quarter and half-year ended June 30, 2025, at 8:00 GST (0:00 EST) on August 7, 2025. VEON will also host a results conference call with senior management at 16:00 GST (8:00 EST) on the same day. 2Q25 results conference call To register and access the event, please click here or copy and paste this li...
VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing
VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing Kyiv, New York, Dubai, and Philadelphia – July 10, 2025 – VEON Ltd. (Nasdaq: VEON) (“VEON”), a global digital operator, and Cohen Circle Acquisition Corp. I (“Cohen Circle”), a special purpose acquisition company (Nasdaq: CCIR), today announce the execution of non-redemption agreements (“NRAs”) totaling approximately USD 52.3 million with accredited institutional investors, including Helikon and Clearline. These commitments cover approximately 5.05 million CCIR Class A shares, securing the minimum USD 50 million cash con...
VEON Raises USD 200 Million in Private Bond Placement
VEON Raises USD 200 Million in Private Bond Placement Dubai, July 2, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), announces today that it has completed the pricing of a private placement of USD 200 million of senior unsecured notes due in 2029 with institutional investors (the “Notes”), following its announcement on June 16, 2025 that it is considering options to raise external financing through a private placement. The Notes, issued by VEON MidCo B.V., are priced at par and have an annual interest rate of 9.000%. The instrument’s expected credit rating from S&P and...
- 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.
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...
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
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...
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