VEON Announces Russian Regulatory Approval for Sale of Its Operations

Amsterdam, Netherlands, 8 February 2023 08:00 CET - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today announces that approval has been received from Russian regulatory bodies for the proposed sale of its Russian operations.

Kaan Terzio lu, CEO of VEON Group, said: We believe the sale of our Russian business represents the optimal solution for VEON, its Russian operations, and all stakeholders, including customers, shareholders, creditors, and employees both in and outside of Russia. We are pleased to have reached this significant milestone in the transaction, which is expected to be accretive to equity, reduce VEONs debt, and improve its credit profile.

On February 7th, 2023, the Sub-Commission of the Government Commission for Control over Foreign Investments in the Russian Federation issued its approval of the proposed sale of VEON's Russian operations to certain senior members of the management of PJSC VimpelCom, led by its current CEO Alexander Torbakhov, subject to certain conditions.

The Russian Federal Antimonopoly Service has already authorized the transaction, and it is anticipated that the remaining closing conditions will be satisfied and that, as previously communicated, the transaction will complete on or before 1 June 2023.

LINK:	https://www.veon.com/media/media-releases/2023/veon-announces-russian-...
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