Sony Pixel Power calrec Sony

VEON concludes Russia tower transaction

01/12/2021

Amsterdam, 01 December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announces the successful conclusion of the transaction for the sale of its Russian tower assets to Service-Telecom.

Following VEON's entry into an agreement to sell its mobile network towers in Russia to Service-Telecom as announced on 6 September 2021, regulatory approvals have been obtained by the parties and this transaction has now successfully completed. The transaction involves the sale of 100% of National Tower Company ( NTC ), a subsidiary of VEON, which operates a portfolio of approximately 15,400 mobile network towers in Russia.

The purchase price for the transaction of RUB70.65bn (USD957mn equivalent) corresponds to an EV/EBITDA multiple of 11.7x based on the projected EBITDA of National Tower Company post-completion. VEON has received a payment of RUB64.4bn (USD872mn equivalent) at closing and the balance of certain deferred amounts will be due and payable over the next three years. The proceeds from this transaction will be used to reduce Group external debt.

The conclusion of this transaction paves the way for the establishment of a long-term partnership pursuant to a master tower agreement that has been entered into between PJSC Vimpelcom and Service-Telecom. In connection with the transaction, J.P. Morgan and Allen & Overy acted as financial and legal advisors, respectively, to a wholly owned subsidiary of VEON. Aspring Capital and Freshfields Bruckhaus Deringer acted as financial and legal advisors to Service-Telecom, respectively.

Kaan Terzioglu, VEON's CEO, said: I am encouraged by the successful conclusion of this transaction and look forward to building our partnership with Service-Telecom. This transaction unlocks the value of our infrastructure assets in Russia and allows the release of capital to further optimise VEON's balance sheet while at the same time achieving more financial flexibility for the group .

Service-Telecom CEO Nikolay Berdin noted: Following a highly competitive tender process, we completed this historical, first-ever, tower transaction in the Russian market. This highlighted the financial capabilities of the group and demonstrated the expertise of the Service-Telecom team both in its ability to manage the tower business and M&A. By entering this transaction with VimpelCom, well continue to successfully run the business to develop a national mobile network infrastructure that matches the countrys ambitions.
LINK: https://www.veon.com/media/media-releases/2021/veon-concludes-russia-t...
See more stories from vimpel

Europe Stories

07/12/2022

Dalet Flex Takes a Leap Forward

Dalet, a leading technology and service provider for media-rich organizations, today announced key new capabilities available in Dalet Flex that support importa...

04/11/2022

Game better with DTS Headphone:X

The best gamers know DTS Headphone:X technology ups their play. Now major magazines have caught on, too. DTS Headphone:X technology creates immersive soundsc...

08/10/2022

Dalet Next-Gen Solutions at IBC 2022

Dalet, a leading technology and service provider for media-rich organizations, is pleased to announce its return to the IBC Show, held in Amsterdam from Septemb...

11/08/2022

MEET DIGIGRAM AT AGILE BROADCAST BOOTH

We are excited to be back at the @Integrate exhibition at the ICC Sydney, Australia For over a decade, Integrate has been Australia's leading event for Pro...

11/08/2022

MediaKind ready to go Live without limits' at IBC 2022

The leading media technology company will showcase its latest innovations designed to exceed viewers expectations by acquiring & delivering live streamed media ...

11/08/2022

Mo-Sys, ARRI, AWS among HPA Award winners

The HPA Awards recognise creative artistry and innovation in the professional media content industry By George Winslow Published: August 11, 2022 The HPA A...

11/08/2022

Meet the composer and sound designer

Sefi Carmel explains why he feels the studio is the place where technology and creativity meet By Contributor Published: August 11, 2022 Sefi Carmel explai...

11/08/2022

IBC to present BBC with International Honour for Excellence

BBC to be honoured at IBC awards, with the shows Special Award going to Sonya Chakarova, Daniella Weigner and Phillip Covell, who brought together more than 400...

11/08/2022

Sky Studios Elstree selects Xytech's resource management solution

Xytech's Media Operations Platform now manages the studio's scheduling requirements, including studios, ancillary room and equipment bookings By Jenny ...

11/08/2022

Identification of Substances from Claims Simplified in CAS PatentPak

The CAS PatentPak workflow solution saves valuable time by providing CAS STNext users with easy access to substances in the full text of patent documents. The s...

11/08/2022

HE'S A STARMAN! The 50 most influential British artists of the last 50 years revealed

New list recognises renowned artists across five categories: Visual Arts, Litera...

11/08/2022

Riedel Restructures EMEA Sales and System Consulting Teams to Better Serve Regional Customer Interests

August 11, 2022 Riedel Restructures EMEA Sales and System Consulting Teams to ...

11/08/2022

Advantest selects Rohde & Schwarz to verify high-speed SoC testers

Advantest selects Rohde & Schwarz to verify high-speed SoC testers Advantest Corp. with headquarters in Chiyoda-ku, Tokyo, Japan, has selected the R&S RTP high...

11/08/2022

Lightware Visual Engineering Expands Integrations Partnerships To Unlock Next Gen Meeting Rooms

Lightware Visual Engineering Expands Integrations Partnerships To Unlock Next Ge...

10/08/2022

Relive Soccer's Biggest Moments With the Spotify Original Podcast 22 Goals'

There are few sports that have the power to captivate a critical mass of the glo...

10/08/2022

Display Your Top Five Kendrick Lamar Projects With Spotify's Newest Interactive Experience

Listen to this story read aloud in 2 minutes and 20 seconds. https://storage.go...

10/08/2022

SGL Carbon expands capacities for graphite products for use in the semiconductor industry

SGL Carbon will significantly increase capacities for the production of graphite...

10/08/2022

Meet the entry level camera assistant

dock10s Amy Ashley-Mather reveals how Facebook helped her get started in the media tech industry, and why anyone who wants to work in media should say yes to ev...

10/08/2022

Explore the Possibilities Beyond the horizon' with NAGRA at IBC 2022

Cheseaux-Sur-Lausanne, Switzerland and Phoenix, (AZ), USA - (IBC 2022, Stand 1.C81) August, 10, 2022 - NAGRA, a Kudelski Group (SIX:KUD.S) company and the world...

10/08/2022

HMS promoted to Gold status in EcoVadis sustainability rating

HMS Networks has been awarded a Gold rating by EcoVadis the worlds most trusted provider of business sustainability ratings. EcoVadis assesses more than 90,00...

10/08/2022

Fox Corporation Reports Fourth Quarter and Full Year Fiscal 2022 Financial Results

Fox Corporation Reports Fourth Quarter and Full Year Fiscal 2022 Financial Resul...

10/08/2022

Clear-Com to Feature IP-Based and Remote Production Intercom Solutions at IBC 2022

Clear-Com is excited to announce their return to the IBC Show in Amsterdam this...

09/08/2022

Spotify's New Home Feeds Make Discovering Your New Favorites Easy

Spotify's Home is a go-to spot to find new recommendations and revisit recent favorites. And with an upcoming update to Home, users will get a gateway to gr...

09/08/2022

DPA SHARES NEWEST MIC SOLUTIONS WITH MEDIA AND ENTERTAINMENT INDUSTRY AT IBC 2022

DPA's Micro Shotgun, Headsets and Kick Drum Mic Bring Superior Intelligibili...

09/08/2022

Academy Software Foundation launches playback and review open source tools

The Foundation has also launched a new Digital Production Example Library, created as a vendor-neutral platform for test content with a uniform license agreemen...

09/08/2022

Meet the research and development software engineer

Emotion System's Tristan Sear talks about learning to code with his brothers, and why a career in software engineering means he learns something new every s...

09/08/2022

3 questions to composer Hannah Kendall

3 questions to composer Hannah Kendall...

09/08/2022

VSN to showcase its media solutions at SET Expo 2022

VSN will be present at SET Expo 2022, showing the latest advances and updates on its media solutions. The company will showcase its products in the stands of it...

09/08/2022

Magyar Telekom results for the second quarter and first half of 2022

Magyar Telekom results for the second quarter and first half of 2022 Budapest, August 9, 2022 17:30 Magyar Telekom today reported its consolidated financia...

09/08/2022

Entertainment One (eOne) and CTVs Procedural The Spencer Sisters Adds Recurring Cast, With April Mullen To Direct First Two Episodes

BACKEntertainment One (eOne) and CTVs Procedural The Spencer Sisters Adds Recurr...

09/08/2022

Barco projector selected for Joint Simulation Environment solution

Barco projector selected for Joint Simulation Environment solution Atlanta, Georgia, 9 August 2022 - Barco, a global leader in visualization technology, announc...

09/08/2022

EBU Members to offer comprehensive coverage of European Aquatics Championships Rome 2022

EBU Members to offer comprehensive coverage of European Aquatics Championships R...

08/08/2022

UKTV's Alibi joins with MASTERPIECE and All3Media International to co-commission the return of hit series Annika

(L-R) writer Nick Walker, Nicola Walker and Jamie Sives Praise for Annika serie...

08/08/2022

WhatsApp misinformation course goes viral

A digital learning course on mis and disinformation delivered via the messaging platform WhatsApp has gone viral in Sudan. The first seven days after publicat...

08/08/2022

, 25 .

1997 Hey, Hey, Hey' ', ', ', ', , ' , ...

08/08/2022

South Korea's Legendary Band JAURIM Curates 25 Years of Inspiration

This year, South Korea's legendary band JAURIM, which led the popularization of band music in the nation and helped pioneer a new genre there, is celebratin...

08/08/2022

DreamWorks animation releases MoonRay as open source software

Animation production rendering software was used on such films as How to Train Your Dragon By George Winslow Published: August 8, 2022 Animation production...

08/08/2022

Meet the product marketing manager

Vizrts Elena Petrichevska reveals how a delayed flight led to her joining the media tech industry, and why she thinks its the hidden treasure on the big island ...

08/08/2022

BBC planning to sell EastEnders studios

The BBC said it is exploring the sale of its Elstree base and leasing back part of the facility By Jenny Priestley Published: August 8, 2022 Updated: August...

08/08/2022

Rise Of The Digital Operator In Bangladesh

According to the World Bank, Bangladesh is one of the fastest-growing economies in the world. Over the past ten years, the economy has grown at an average rate ...

08/08/2022

RT commemorates the 100th anniversary of the death of Michael Collins

RT has today unveiled content to mark the 100th anniversary of the death of Michael Collins that will be available on television, radio and online. Asking dif...

08/08/2022

House of the Dragon seat of power at the Tower

Game of Thrones fans and visitors to the Tower of London were the first in the UK to take a seat on the imposing new-look Iron Throne this morning, as it was un...

08/08/2022

Crooning in the Castles with CODA

With more than 75 million records sold, four Grammies, and a following to match that of any artist on the planet, Michael Bubl is one of the most respected voc...

08/08/2022

EBU Members to broadcast over 3,500 hours of European Championships Munich 2022

EBU Members to broadcast over 3,500 hours of European Championships Munich 2022...

06/08/2022

GEARSPACE REVIEWS 2028 MICROPHONE

There arent many handhelds that are as good sounding and well-rounded as the 2028. "Build quality: Nothing but excellent, and I'd like to highlight the fac...

06/08/2022

LIVE SOUND INTERNATIONAL REVIEWS 4055 KICK DRUM MIC

I think DPA has absolutely knocked this one out of the park. Live Sound International s Dennie Miller tested our 4055 Kick Drum mic on a wide variety of drums,...

05/08/2022

GSMA Celebrates a Vibrant Mobile 360 Asia Pacific

Attendees from 55 countries convened in Singapore to discuss digital societies and the next frontier of connectivity 5 August 2022, Singapore: The GSMA is cel...

05/08/2022

Mo-Sys collaborates with Madrid's MR Factory on product development and innovation

MR Factory will gain access to Mo-Sys technology stack, as well as contributing ...