03 Aug 2022
VEON's Banglalink Signs Tower Sharing Agreement in Bangladesh Amsterdam, 5 August 2022: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, today announces that its subsidiary Banglalink has reached an agreement with Bangladesh Telecommunications Company Limited (BTCL) for a tower sharing initiative.
Kaan Terzioglu, CEO of VEON Group: VEON's future centers around an asset-light business model that enables us to focus on providing our customers high-quality connectivity and world-class digital services. By reducing our direct ownership of capex-intensive tower infrastructure, we can focus on these high-growth digital services, delivering greater value to our shareholders and our customers. The tower sharing agreement reached with BTCL represents another step towards implementing this strategy and follows similar deals in other operating countries.
Under the agreement, BTCL will share its tower infrastructures with Banglalink. The initiative will enhance Banglalink's quality of services further by supporting its 4G expansion drive, ensuring energy-efficient operations and optimizing the use of Bangladesh's national resources.
We always welcome network sharing opportunities to serve our customers better and ensure proper utilization of resources and infrastructures. Erik Aas, Chief Executive Officer, Banglalink said, In the last year, we have added more than 3300 4G base stations to our network; many of these are based on shared infrastructure. We will continue to expand the network, and our partnership with BTCL will give a fresh impetus to this endeavor. We are looking forward to further sharing opportunities of passive and active telecom infrastructure in the future.
We are happy to enter into this partnership with Banglalink. Since last year, we have been sharing our fibers with Banglalink, achieving positive results for us both. Stated Dr. Md. Rafiqul Matin, Managing Director, BTCL. As a country, we have reached an impasse where infrastructure sharing can be an effective way to tackle national and global challenges. This initiative is an example of how two organizations can benefit from partnering.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to over 200 million customers. Operating across eight countries that are home to 9% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext.
For more information, visit: https://www.veon.com
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, VEON's commercial partnerships in Bangladesh. 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.
Contact information
Marina Levina
Group Communications Director
Marina.levina@veon.com
Julian Tanner
Julian.tanner@tuvapartners.com
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03 Aug 2022
