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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
22/07/2026
Among other tweaks to coverage, the broadcaster added announce positions in the ...
22/07/2026
The Australian Sports Technologies Network (ASTN) has reported a sharp acceleration in Australia's sportstech sector, with revenue growth rising from 10% in...
22/07/2026
From a retrofitted broadcast bus to packed Match Day Live! events, Bennett detai...
22/07/2026
TMRW Sports has named Brendan Donohue as President, Flag Football, where he will lead the company's professional flag football business in partnership with ...
22/07/2026
Stephen Arnold Music (SAM) designed and produced soundtracks for nine projection...
22/07/2026
Harmonic has announced a $25,000 donation to Global Empowerment Mission (GEM) fo...
22/07/2026
Telemundo has announced it has acquired from UC3 exclusive U.S. Spanish-language...
22/07/2026
The Rest Is Football, hosted by Gary Lineker, Alan Shearer, and Micah Richards, ...
22/07/2026
Sports Studio has announced a partnership with TheSoul Group to distribute Free ...
22/07/2026
Daktronics has concluded its 2026 High School Video Summit, a two-day hybrid event combining virtual sessions with hands-on host school visits across the countr...
22/07/2026
FOR-A America will exhibit at the MMCA Show in Pensacola, Florida (July 21-24), marking the company's first appearance at the house of worship AV event. FOR...
22/07/2026
The New York Yankees have selected Lumen Technologies (NYSE: LUMN) to connect Ya...
22/07/2026
Calrec will exhibit at IBC 2026 (Stand 8.C47) with demonstrations of its IP-native audio ecosystem built around the Argo console range, and will announce two ne...
22/07/2026
Solid State Logic has announced the appointment of Algam EKO as its distributor for SSL large format consoles in Italy, covering the Live, Broadcast, and Studio...
22/07/2026
FloSports has announced the launch of the FloSports Channel, a free ad-supported streaming channel premiering on Prime Video in the U.S. on July 21. The channel...
22/07/2026
Banana Ball TV (BTV), the broadcast operation of the Savannah Bananas, has insta...
22/07/2026
SiriusXM and Audacy have announced an agreement bringing 42 Audacy sports, news, and talk stations from 29 U.S. markets to SiriusXM. Twenty-three Audacy sports ...
22/07/2026
The collaboration produced more than 500 short-form videos across four cities th...
22/07/2026
At 2,600 sq. ft., the new home of digital content houses a main studio, podcast space, and an auxiliary control room
NFL franchises are accelerating their prod...
22/07/2026
Library now available in Engine Player
Another of Eduardo Tarilonte's popular sample libraries has just been moved over to Engine Audio's Engine Pla...
22/07/2026
All-in-one mic & DSP interface overhauled
Cloudvocal have just refreshed the design of their all-in-one mic, audio interface and DSP processor, introducing ...
22/07/2026
The final boss of the lost dual-op-amp circuit
Electro-Harmonix have just introduced the Deluxe Big Muff Pi 2, which they say offers their latest take on t...
22/07/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Proven managed IP solution helps broadcasters confidently navigate the future of broadcast distribution
LTN announces it has completed successful satellite-to-...
22/07/2026
Today, Chaos announced V-Ray 7, update 4, eliminating the need for asset conversions and tool switching, which slow down media and entertainment pipelines. Arti...
22/07/2026
An AI playground for the Project Indigo camera app
Marc Levoy July 22, 2026
0 Comments
At left is the user interface of our Playground, running on an ...
22/07/2026
Custom Consoles announces the completion of a large technical furniture project for Radio T l vision Suisse (RTS) at the networks recently inaugurated productio...
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/07/2026
Culver City, CA, July 21, 2026 3D streaming infrastructure provider Miris today announced glTF intake, including the binary .glb form, to its spatial streamin...
22/07/2026
Documentary Lo Invisible Captured with Blackmagic PYXIS 6K
Brie Clayton July 21, 2026
0 Comments
Camera's versatile design allowed filmmakers to c...
22/07/2026
AAF Bridge converts AAF and XML Timelines to Ableton Live - and back
Jerome Gardier July 21, 2026
0 Comments
A two-way converter for macOS and Windows...
22/07/2026
From Class to Concert: Explore a Student-Led Production of David Bowies Work Thr...
22/07/2026
A poisoned spy, a secret war, and a small English city contaminated by a deadly chemical weapon. Available on Sky Documentaries from 4 AugustWednesday 22 July 2...
22/07/2026
Audio at Parity: Comscore Launches Transcript-Level Targeting and Measurement wi...
22/07/2026
Arvato Systems and Lobster Enter into a Partnership and Combine the Integration Platform and Managed Services
Flexible integration solutions for cloud, hybrid...
22/07/2026
RT REPORTS NET SURPLUS OF 22.5 MILLION IN 2025...
22/07/2026
In the Opinion of the Censor airs Monday 27 July at 9.35pm on RT One and RT Player
In the Opinion of the Censor looks at how films for theatrical release wer...
22/07/2026
Before a healthcare robot can be useful in the real world, it has to learn how the physical world pushes back. Anatomy varies. Instruments bend, press, slip and...
21/07/2026
New research involving a cross-section of Mongolias independent media landscape finds enthusiasm for AI as a tool to improve efficiency, sustainability and resi...
21/07/2026
With winners Spain having already paraded the World Cup trophy through Madrid in front of millions of fans and the dust now settling on an epic tournament of th...
01 Dec 2021
