Sony Pixel Power calrec Sony

VEON Completes the Sale of Its Stake in TNS+ in Line with Asset-Light Strategy

30/09/2024

30 Sep 2024

VEON Completes the Sale of Its Stake in TNS in Line with Asset-Light Strategy Amsterdam, 30 September 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator ( VEON or the Company ), announces that it has completed the sale of its 49% stake in Kazakh wholesale telecommunications infrastructure services provider, TNS Plus LLP ( TNS ), to its JV partner, the DAR group of companies, following the receipt of necessary regulatory approvals.

The sale was completed today for a total consideration to VEON (including deferred consideration) of USD 137.5 million. Following the sale, Beeline Kazakhstan will continue to offer an exceptional customer experience, with business continuity secured by long-term commercial contracts with TNS to continue providing its critical infrastructure to Beeline Kazakhstan.

Completion of this sale enables Beeline Kazakhstan to continue to access the robust wholesale infrastructure offered by TNS while strengthening our Kazakh digital operator's focus on building its portfolio of connected consumer and enterprise services. Beeline Kazakhstan offers exciting digital services such as Simply, Izi, Hitter and BeeTV, and is a key partner in developing Kazakhstan's local-language AI large language model, which will power the development of new, locally relevant AI-powered tools in Kazakhstan. We are thrilled to deepen our services to the Kazakh economy in these areas said Kaan Terzioglu, Group CEO of VEON.

Consolidating ownership of TNS reflects our strong confidence in Kazakhstan as a key country for data traffic transit between Europe and Asia. This move will also enable the company to execute its new global strategy by expanding into new geographies and introducing cutting-edge digital products. We will continue to invest in Kazakhstans telecom infrastructure and provide high-quality services to our customers, while maintaining TNS 's leadership in data transit, said Alidar Utemuratov, Group CEO and founder of DAR.

About VEON

VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% 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: www.veon.com

About DAR

DAR is an international group that has many years of extensive expertise in telecom, fintech, media and tech industries. DAR was founded by Mr. Alidar Utemuratov, investor and tech entrepreneur, who also launched an investment firm GreenApple known internationally for successful cases of Cellwize and 2Day Telecom.

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 strategy and investment plans. 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 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.

Contact Information

VEON

Hande Asik

Group Director of Communications

pr@veon.com
LINK: https://www.veon.com/newsroom/press-releases/veon-completes-the-sale-o...
See more stories from vimpel

More from VimpelCom

11/12/2024

Kazakh Language Gets its National LLM with a Groundbreaking Partnership of Kazakh Research Institutions and VEON's QazCode

11 Dec 2024 Kazakh Language Gets its National LLM with a Groundbreaking Partner...

09/12/2024

VEON Approves Launch of the Initial USD 30 Million Phase of its Share Buyback Program

09 Dec 2024 VEON Approves Launch of the Initial USD 30 Million Phase of its Sha...

05/12/2024

VEON and Engro Corp Announce Strategic Partnership for Telecommunications Infrastructure

05 Dec 2024 VEON and Engro Corp Announce Strategic Partnership for Telecommunic...

03/12/2024

In an Open Letter to VEON Investors, VEON Group CEO Welcomes the Unfreezing of VEON's Corporate Rights in Kyivstar

03 Dec 2024 In an Open Letter to VEON Investors, VEON Group CEO Welcomes the Un...

29/11/2024

VEON Welcomes Unfreezing of its Corporate Rights in Kyivstar, Supporting Ukraine's Recovery and Resilience

29 Nov 2024 VEON Welcomes Unfreezing of its Corporate Rights in Kyivstar, Suppo...

25/11/2024

VEON Shares now Trade Exclusively on Nasdaq in New York

25 Nov 2024 VEON Shares now Trade Exclusively on Nasdaq in New York Amsterdam, Dubai and New York, November 25, 2024: VEON Ltd. (Nasdaq: VEON), a global digita...

21/11/2024

VEON on Track to Consolidate Trading on Nasdaq in New York, Last Day on Euronext Amsterdam is Tomorrow

21 Nov 2024 VEON on Track to Consolidate Trading on Nasdaq in New York, Last Da...

21/11/2024

VEON Publishes 2023 Dutch Annual Report for VEON Holdings B.V. with Audited Financial Statements for Year Ended 31 December 2023

21 Nov 2024 VEON Publishes 2023 Dutch Annual Report for VEON Holdings B.V. with...

20/11/2024

VEON's Kyivstar Acquires New Spectrum, Investing UAH 1.4 Billion in Ukraine's Economy

20 Nov 2024 VEON's Kyivstar Acquires New Spectrum, Investing UAH 1.4 Billio...

19/11/2024

GSMA brings M360 Eurasia to Tashkent in partnership with Beeline Uzbekistan and Uzbekistan's Ministry of Digital Technologies

19 Nov 2024 GSMA brings M360 Eurasia to Tashkent in partnership with Beeline Uz...

15/11/2024

VEON Receives License for its Branch Office in Dubai International Financial Centre

15 Nov 2024 VEON Receives License for its Branch Office in Dubai International ...

14/11/2024

VEON 3Q24 Trading Update: Another Billion Dollar Revenue Quarter, Digital Drives Growth

14 Nov 2024 VEON 3Q24 Trading Update: Another Billion Dollar Revenue Quarter, D...

13/11/2024

VEON appoints UHY LLP as auditors for VEON Group's 2024 PCAOB Audit

13 Nov 2024 VEON appoints UHY LLP as auditors for VEON Groups 2024 PCAOB Audit Amsterdam and Dubai, 13 November 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amster...

12/11/2024

VEON Announces Special General Meeting for the Laying of the 2023 Audited Financials Before Shareholders

12 Nov 2024 VEON Announces Special General Meeting for the Laying of the 2023 A...

11/11/2024

VEON Elevates its Youth Offering Through Banglalink's AI-Powered Lifestyle App RYZE

11 Nov 2024 VEON Elevates its Youth Offering Through Banglalink's AI-Powere...

08/11/2024

VEON Group Reaffirms Commitment to Strengthen Pakistan's Digital Infrastructure in Meeting with Prime Minister

08 Nov 2024 VEON Group Reaffirms Commitment to Strengthen Pakistan's Digita...

07/11/2024

VEON's Cloud & Cybersecurity Platform Garaj Signs with Standard Chartered Bank in Pakistan

07 Nov 2024 VEON's Cloud & Cybersecurity Platform Garaj Signs with Standard...

05/11/2024

VEON's Jazz Enters Partnership to Support Local-Language AI LLM Development in Pakistan

05 Nov 2024 VEON's Jazz Enters Partnership to Support Local-Language AI LLM...

01/11/2024

VEON Files its Dutch Annual Report with Audited Financial Statements for Year Ended 31 December 2023

01 Nov 2024 VEON Files its Dutch Annual Report with Audited Financial Statement...

01/11/2024

VEON Launches AI-Powered Super App Hambi in Uzbekistan

01 Nov 2024 VEON Launches AI-Powered Super App Hambi in Uzbekistan Amsterdam, Dubai and Tashkent, 1 November 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam...

29/10/2024

VEON CEO Kaan Terzioglu Re-elected to the GSMA Board

29 Oct 2024 VEON CEO Kaan Terzioglu Re-elected to the GSMA Board Amsterdam and Dubai, 29 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a gl...

25/10/2024

JazzCash and Dgpays Join Forces to Enhance Marketplace Payments in Pakistan

25 Oct 2024 JazzCash and Dgpays Join Forces to Enhance Marketplace Payments in Pakistan Amsterdam and Dubai, 25 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext...

24/10/2024

VEON's Jazz Launches FikrFree: An AI-Powered Digital Marketplace to Unlock Affordable Insurance and Healthcare in Pakistan

24 Oct 2024 VEON's Jazz Launches FikrFree: An AI-Powered Digital Marketplac...

21/10/2024

Nasdaq Confirms VEON's Full Compliance Following its 2023 20-F Filing

21 Oct 2024 Nasdaq Confirms VEON's Full Compliance Following its 2023 20-F Filing Amsterdam and Dubai, 21 October 2024: VEON Ltd. (Nasdaq: VEON; Euronext A...

21/10/2024

VEON Commences its Delisting from Euronext Amsterdam to Consolidate its Trading on Nasdaq in New York

21 Oct 2024 VEON Commences its Delisting from Euronext Amsterdam to Consolidate...

21/10/2024

VEON Welcomes Letter from its Shareholder Shah Capital, Reiterates Commitment to Shareholder Value Creation

21 Oct 2024 VEON Welcomes Letter from its Shareholder Shah Capital, Reiterates ...

17/10/2024

VEON Files its 2023 Form 20-F

17 Oct 2024 VEON Files its 2023 Form 20-F Amsterdam, 17 October 2024, 20:45: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator ( VE...

14/10/2024

VEON Announces Plan to Move its Headquarters to Dubai International Financial Center

14 Oct 2024 VEON Announces Plan to Move its Headquarters to Dubai International...

14/10/2024

VEON appoints Andrey Pyatakhin as the incoming CEO of Beeline Uzbekistan

14 Oct 2024 VEON appoints Andrey Pyatakhin as the incoming CEO of Beeline Uzbekistan Amsterdam and Tashkent, 14 October 2024: VEON Ltd. (Nasdaq: VEON, Euronext...

09/10/2024

VEON Launches KINOM Digital Entertainment Platform in Uzbekistan

09 Oct 2024 VEON Launches KINOM Digital Entertainment Platform in Uzbekistan Amsterdam and Tashkent, 09 October 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amster...

02/10/2024

VEON's Mobilink Bank and Banglalink Take Home Digital Nations Awards at GSMA's M360 Asia-Pacific

02 Oct 2024 VEON's Mobilink Bank and Banglalink Take Home Digital Nations ...

30/09/2024

VEON Strengthens Group Leadership Team Adding Two Senior Executives to Its Dubai Team

30 Sep 2024 VEON Strengthens Group Leadership Team Adding Two Senior Executives...

30/09/2024

VEON Completes the Sale of Its Stake in TNS+ in Line with Asset-Light Strategy

30 Sep 2024 VEON Completes the Sale of Its Stake in TNS in Line with Asset-Light Strategy Amsterdam, 30 September 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amst...

27/09/2024

VEON Bonds to Re-Enter CEMBI and JACI Indices

27 Sep 2024 VEON Bonds to Re-Enter CEMBI and JACI Indices Amsterdam, 27 September 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital o...

16/09/2024

VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investment and Continued Commitment to Serving Ukraine

16 Sep 2024 VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investme...

13/09/2024

VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader by the Financial Times

13 Sep 2024 VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader...

12/09/2024

VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu

12 Sep 2024 VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu Amsterdam, 12 September 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam:...

09/09/2024

VEON's Kyivstar Receives Further Recognition as Top International Investor in Ukraine

09 Sep 2024 VEON's Kyivstar Receives Further Recognition as Top Internation...

02/09/2024

Supporting Digital Skills Development: Beeline Kazakhstan Adds New Secondary School to Award-Winning CSR Programme

02 Sep 2024 Supporting Digital Skills Development: Beeline Kazakhstan Adds New ...

27/08/2024

Tamasha Opens New Innings with First International Streaming of Cricket Matches

27 Aug 2024 Tamasha Opens New Innings with First International Streaming of Cricket Matches Amsterdam and Islamabad, 27 August 2024: VEON Ltd. (Nasdaq: VEON, E...

14/08/2024

VEON's Kyivstar and Come Back Alive Launch New Fundraising Campaign for Demining Ukraine

14 Aug 2024 VEON's Kyivstar and Come Back Alive Launch New Fundraising Camp...

08/08/2024

VEON 2Q24 Trading Update: Double-Digit USD Growth, Robust Operational Execution, Confirming Full Year Guidance

08 Aug 2024 VEON 2Q24 Trading Update: Double-Digit USD Growth, Robust Operation...

01/08/2024

VEON Announces Intention to Delist from Euronext Amsterdam and to Initiate a Share Buyback Program for up to USD 100 million

01 Aug 2024 VEON Announces Intention to Delist from Euronext Amsterdam and to I...

29/07/2024

VEON Publishes 2023 Integrated Annual Report

29 Jul 2024 VEON Publishes 2023 Integrated Annual Report Amsterdam, 29 July 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator...

25/07/2024

VEON to release 2Q 2024 trading update on 8 August 2024

25 Jul 2024 VEON to release 2Q 2024 trading update on 8 August 2024 Amsterdam, 25 July 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digi...

22/07/2024

VEON's Jazz Secures Pakistan's Largest Long-Term Private Sector Syndicated Credit Facility of up to PKR 75 billion

22 Jul 2024 VEON's Jazz Secures Pakistan's Largest Long-Term Private Se...

17/07/2024

VEON's Kyivstar Extends Energy Resilience of Network

17 Jul 2024 VEON's Kyivstar Extends Energy Resilience of Network Kyivstar addresses power blackouts with industrial-grade generator fleet Amsterdam and Ky...