01 Dec 2021
VEON concludes Russia tower transaction 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.
Disclaimer
This release contains forward-looking statements, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, the potential benefits of the transaction described above. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain or may contain, inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com.
Contact information
Investor Relations
Nik Kershaw
ir@veon.com
This website stores cookies on your computer. These cookies are used to improve vour website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy
We wont track your information when you visit our site. But in order to comply with your preferences, well have to use just one tiny cookie so that youre not asked to make this choice again.
AcceptDecline
Europe Stories
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
15/09/2025
Global K-Pop sensation aespa is redefining what it means to be rich with the r...
15/09/2025
Every day, millions of people around the world turn to Spotify to enjoy the audi...
15/09/2025
After months of intensive planning and implementation, Brembo SGL Carbon Ceramic...
15/09/2025
Unique sports content orchestration platform builds momentum among SES's cus...
15/09/2025
-- Opens door to growth in renewable energy New Delhi, India - 15th September -- Global business and industry leaders from around the world are joining technol...
13/09/2025
Harmonic's Software-Based XOS Advanced Media Processor Provides Unparalleled Efficiency and Unlocks New Business Models SAN JOSE, Calif. - Sept. 13, 2025 -...
12/09/2025
For fans, we know how important it is to stay plugged into music culture and dis...
12/09/2025
Link ping, Sweden and Shipley, United Kingdom, September 12, 2025 - Agama, the expert in video observability and analytics for service quality and customer expe...
12/09/2025
Feature-length retrospective from Studio Crook to air in 2026
Sir David Jason returns to the nation's favourite comedy channel, U&GOLD, for Open All Hours:...
12/09/2025
Friday 12 September 2025
The Boomtown Rats, Nyah Grace, Soweto Kinch, Royal Ballet and Madness also announced to perform at the ceremony on Tuesday
Sky today ...
12/09/2025
Wuppertal September 12, 2025
Riedel Unveils Ultra-Light Bolero Mini Wireless Intercom BeltpackAt IBC2025 in Amsterdam, Riedel Communications unveiled Bolero M...
12/09/2025
Wuppertal September 12, 2025
Riedel Communications Acquires hi human interfaceRiedel Communications today announced the acquisition of hi human interface fro...
12/09/2025
CORE+ virtually removes distortion, setting a new standard for church sound and giving worship teams the clarity and confidence they need.
Read the full artic...
12/09/2025
The Late Late Show is back with a bang after the summer break, and Patrick Kielt...
12/09/2025
The World Athletics Championships, Ireland v France in the Women's Rugby World Cup quarter-final, the Irish Champions Festival, and two Sports Direct Men...
12/09/2025
The Records Show starts Sunday at 6.30pm on RT One and RT Player.
Katie Hanno...
11/09/2025
RADAR, Spotify's program for emerging talent, recently hit a major milestone...
11/09/2025
Link ping, Sweden, September 11, 2025 - Agama, the expert in video observability & analytics for service quality and customer experience, announced today the la...
11/09/2025
Under the USD 89.6 Million award, SES Space & Defense will provide global commer...
11/09/2025
Leading Balkan DTH provider adds capacity to consolidate its m:Sat TV platform at 23.5 degrees East and serve more customers across the region
Luxembourg, 11 S...
11/09/2025
UKTV's free streaming service U launches on Sky Q
Free streaming service U has launched on Sky Q in the UK, UKTV and Sky confirm today, expanding the footp...
11/09/2025
From the discreet 2061 lavaliers to 4099 and 4011 mics, the setup delivered clean, natural sound in one of the most challenging broadcast environments.
Read th...
11/09/2025
From rugged build quality to natural, detailed sound, the verdict is clear: big performance can come in a very small package.
Read the full review here!...
11/09/2025
Tonight on Prime Time
RT One and RT Player at 9:35pm
Tonight RT Prime Time...
11/09/2025
RT Statement: 2026 Eurovision Song Contest
At the General Assembly of the European Broadcasting Union (EBU) in July, a number of EBU members raised concerns ...
10/09/2025
Lossless on Spotify Premium is here.
Lossless audio has been one of the most a...
10/09/2025
The Television Will Be Revolutionised Sep 10, 2025
Written by Sunit Kotecha, Director of Delivery and Operations, YouView
2025 marks a century since the f...
10/09/2025
First of Spains F110 frigates get future-ready with Rohde & Schwarz communicatio...
10/09/2025
Harmonic's cOS Platform Supports DOCSIS and Fiber, Enabling Midco to Deliver Reliable Multi-Gigabit Connectivity to Subscribers SAN JOSE, Calif. - Sept. 10,...
10/09/2025
RT brings three days of live radio, live entertainment, live news, live weather, personal appearances, and more
Join RT Radio 1: Morning Ireland, The Oliver ...
09/09/2025
Since 2020, Spotify's RADAR program has been a launchpad for emerging talent...
09/09/2025
In 2020, Spotify launched RADAR with a clear mission: to identify, nurture, and ...
09/09/2025
If you're on BookTok, you know the drill. You scroll, you tap, and suddenly your To Be Read list is overflowing with trending must-reads. Not unlike Spoti...
09/09/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
09/09/2025
Harmonic's VOS360 Ad SaaS Enables Personalized Ad Delivery and Seamless Integration with the Ad Tech Ecosystem SAN JOSE, Calif. - Sept. 9, 2025 - Harmonic ...
09/09/2025
St. Luke's Episcopal Church in New Jersey needed audio that truly connects and they found the answer.
Read the full case study here!...
09/09/2025
From AI-driven sound design to adaptable systems and uncompromising audio quality, the discussion highlights how innovation is shaping the future of performance...
09/09/2025
The conversation covers DPA's natural, uncolored sound, how to choose the right mic for any application and the company's latest innovations including C...
09/09/2025
From the origins of CORE to the latest CORE+ upgrade, the article explores how DPA minimizes distortion, expands dynamic range and ensures clarity at every SPL ...
09/09/2025
September 9 2025, 07:22 (PDT) Dolby Revolutionizes Entertainment on Four Wheels...
09/09/2025
The Autumn Schedule has begun on RT Raidi na Gaeltachta, with a feast of music, entertainment, news and current affairs programmes as well as an interesting s...
08/09/2025
The company continues to focus on its own training programs. Recently, 20 new ap...
08/09/2025
How an MVP-first approach helps you move faster, stay flexible, and deliver smarter.
Too often, media technology projects aim to solve everything at once ma...
08/09/2025
Fox Corporation Announces Resolution of Murdoch Family Trust Matter New York, NY and Los Angeles, CA - September 8, 2025 - Fox Corporation ( FOX or the Comp...
08/09/2025
Fox Corporation Announces Secondary Offering of Class B Common Stock New York, NY, and Los Angeles, CA - September 8, 2025 - Fox Corporation ( FOX or the Co...
08/09/2025
Fox Corporation Announces Pricing of Secondary Offering of Class B Common Stock New York, NY, and Los Angeles, CA, September 8, 2025 Fox Corporation ( FOX ...
08/09/2025
PantoneLIVE Adds New Color Libraries to Meet Growing Demand for Two-Piece Alumin...
01 Dec 2021
