Sony Pixel Power calrec Sony

VEON and Engro Corporation Advance to Closing Pioneering Infrastructure Partnership in Pakistan Following Regulatory Approvals

23/05/2025

23 May 2025

VEON and Engro Corporation Advance to Closing Pioneering Infrastructure Partnership in Pakistan Following Regulatory Approvals Islamabad and Dubai, May 23, 2025, 15:00 GST: VEON Ltd. (Nasdaq: VEON), a global digital operator ( VEON or the Company ), announces that it has now secured all regulatory approvals for its strategic partnership with Engro Corporation Limited ( Engro Corp ) for the pooling and management of telecommunications infrastructure assets in Pakistan. The partnership, initially announced on December 5, 2024, is expected to enhance the efficiency of infrastructure and digital investments in the country, in line with Pakistan's digital ambitions.

Under the agreement, VEON's infrastructure assets housed under Deodar (Private) Limited, wholly owned by VEON through its subsidiary Pakistan Mobile Communications Limited, will vest into Engro Connect, an Engro Corp's subsidiary, via a scheme of arrangement. The companies have secured the necessary regulatory approvals, including from the Competition Commission of Pakistan, the Pakistan Telecommunication Authority, and the Islamabad High Court. The scheme of arrangement and related settlements are expected to be completed in June.

This landmark agreement will accelerate Jazz's transformation into an asset-light services company, unlocking further growth potential for both Jazz and Engro Corp in their respective areas, and ultimately strengthening Pakistan's digital transformation. We are delighted to proceed in this collaboration with Engro Corp, which will set the standard in terms of how efficient infrastructure investments can drive digital growth in frontier markets, said Kaan Terzioglu, VEON Group CEO and Chairman of Jazz Board.

I am pleased to note that we are now progressing to closing our pioneering infrastructure partnership with Engro Corp. This marks a significant milestone in our ServiceCo transformation. We will continue delivering world-class digital solutions empowering millions of Pakistanis in an asset-light model, while collaborating with Engro Corp, a trusted leader, for the infrastructure layer, said Aamir Ibrahim, Jazz CEO.

Prosperity and progress increasingly rely on technology and connectivity - and with this milestone, Engro strengthens its role as an enabler of Pakistan's progress. This investment reinforces telecom infrastructure as a key vertical for us and we are keen on expanding access, empowering communities, and future-proofing the infrastructure that will drive growth for generations to come. This is a special moment for all of us at Engro, as this is what we have always stood for: ENabling GROwth, said the CEO of Engro Holdings, Mr. Abdul Samad Dawood.

As part of the arrangement, Engro will pay Jazz an amount of approximately USD 188 million and will guarantee the repayment of Deodar's intercompany debt in the amount of USD 375 million. VEON's digital operator Jazz will continue to lease Deodar's extensive infrastructure for the provision of nationwide mobile voice and data services under a long-term partnership agreement.

About VEON

VEON is a Nasdaq-listed 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. For more information visit: www.veon.com.

About Jazz

Jazz is Pakistan's leading digital operator with over 71.5 million cellular subscribers and 73 million MAUs of digital services as of Q4 2024. Jazz offers the most extensive portfolio of digital services in Pakistan, including JazzCash, the country's leading fintech; Garaj, the largest onshore cloud and cybersecurity platform; and Tamasha, Pakistan's largest homegrown OTT video streaming and entertainment platform.

About Engro Corporation Limited

Engro Corporation is a diversified Pakistani conglomerate that strives to solve pressing issues through its portfolio of businesses. It has developed businesses across the verticals of energy and related infrastructure, petrochemicals, food and agriculture, telecommunication infrastructure, and international trading, over a period of 50+ years. Many of these pioneering businesses have been established in collaboration with global partners including IFC, Royal Vopak, Royal FrieslandCampina, CMEC and others. To learn more about Engro Corporation, please visit www.engrocorporation.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 investment plans, digital products, business plans and commercial partnerships. 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

VEON

Hande Asik

Group Director of Communications

pr@veon.com

ENGRO CORPORATION

Aman Haque

Vice-President, Corporate Communication

corpcomms@engro.com
LINK: https://www.veon.com/newsroom/press-releases/veon-and-engro-corporatio...
See more stories from vimpel

Most recent headlines

06/10/2025

France Tlvisions Wins Prestigious 2025 EBU Technology & Innovation Award in Groundbreaking Collaboration with Dalet

France T l visions, France's leading broadcaster, has received the 2025 EBU ...

04/09/2025

Monumental Sports & Entertainment and Dalet Win Prestigious 2025 NAB Show Project of the Year Award

Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...

14/06/2025

Pluto TV Adds All Womens Sports Network's FAST Channel

NEW YORK Pluto TV and the All Womens Sports Network have launched a free ad-supported streaming TV (FAST) AWSN channel in the U.S., Canada, the U.K. and the Nor...

14/06/2025

Scripps Inks Multiyear Agreement for WNBA Games on Ion

NEW YORK and CINCINNATI E.W. Scripps has announced a new, multiyear agreement with the WNBA that will continue Ions regular-season coverage of the league on Fri...

14/06/2025

NAB Highlights Hidden Importance of Spectrum in Major Sports Broadcasting

WASHINGTON The National Association of Broadcasters highlighted the hidden importance of spectrum in the production of major sporting events and described wha...

14/06/2025

1.0 Sunset, BPS and NextGen Broadcast's Potential Dominate ATSC Meeting

WASHINGTON Sunsetting ATSC 1.0, expanding business opportunities for NextGen Broadcast and increasing international adoption of the ATSC 3.0 standard were top o...

14/06/2025

Samba TV and Acxiom Announce Massive 40-market Global Expansion

SAN FRANCISCO Samba TV and Acxiom have announced that they will dramatically expand their longstanding relationship....

14/06/2025

MPW announce free in-person workshops

July 2025 in Dublin, Berlin, Amsterdam & London Photo: Thea Martre Music Production for Women (MPW) have announced that they will be running a series of fo...

14/06/2025

San Francisco State University's School of Cinema Uses Blackmagic Design

San Francisco State University's School of Cinema Uses Blackmagic Design Brie Clayton June 13, 2025 0 Comments More than 40 Blackmagic Design came...

14/06/2025

Boris FX Mocha Pro Adds New AI Tools To Tackle VFX Tasks Fast

Boris FX Mocha Pro Adds New AI Tools To Tackle VFX Tasks Fast Jessie Electa Petrov June 13, 2025 0 Comments The 2025.5 release helps artists work more...

14/06/2025

AJA Debuts DRM2-Plus Mini-Converter Frame at InfoComm 2025

AJA Debuts DRM2-Plus Mini-Converter Frame at InfoComm 2025 Brie Clayton June 13, 2025 0 Comments Next-gen frame addresses diverse rackmount needs wit...

13/06/2025

Prime Minister: A Behind-the-Scenes Look at a Leader Who Champions Kindness

(L-R) Lindsay Utz, Michelle Walshe, and The Right Honourable Dame Jacinda Ardern attend the 2025 Sundance Film Festival premiere of Prime Minister at Eccles T...

13/06/2025

Materialists' Director Celine Song Reveals the Inspirations Behind the Film's Soundtrack

Photo credit: Atsushi Nishijima If you're a true lover of rom-coms, chances...

13/06/2025

Pure Drama and Fierce Rivalries set to dominate the world's most iconic sporting event

Pure Drama and Fierce Rivalries set to dominate the world's most iconic spor...

13/06/2025

Press Release: NFVF Opens Call for Public Film Screenings on GBV Awareness as South Africa Confronts Ongoing Femicide Crisis

Johannesburg, 12 June 2025 - The National Film and Video Foundation (NFVF), an a...

13/06/2025

Central Texas Storm Knocks out KTXS Tower, Severely Damages Building

ABILENE. Texas A severe storm knocked down the tower and severely damaged the news studio and main facility of Sinclair-owned KTXS here on Sunday, June 8....

13/06/2025

Berklee's Music Business/Management Department Recognized by the Music Biz Association

Berklee's Music Business/Management Department Recognized by the Music Biz A...

13/06/2025

ATSC Honors Aldo Cugnini, Clarence Hau

WASHINGTON The ATSC, the Broadcast Standards Association, honored veteran technologist Aldo Cugnini and Clarence Hau, Senior Vice President of Standards, Policy...

13/06/2025

ESPN Doubles Down on Immersive Fan Experience for UFL Championship

(Editor's note: The 2025 UFL Championship Game between the D.C. Defenders and Michigan Panthers kicks off Saturday, June 14, at 8 p.m. Eastern. The game wil...

13/06/2025

Soulyft Audio release Chime

New iPad/iPhone synth App announced Following on from last year's release of Gradient Synth - which reached #6 on the App Store's Paid Music charts ...

13/06/2025

HBO Max Plans July Launches in 12 New Markets

LONDON Warner Bros. Discovery has announced that HBO Max will launch direct-to-consumer in multiple new countries this July as the streamer becomes available in...

13/06/2025

Verbit Launches Speaker Identification for Live ASR Broadcast Captions

AI voice transcription and captioning platform Verbit has added a new feature to its Captivate ASR solution the ability to identify specific features in automat...

13/06/2025

FCC's Anna Gomez Meets with TV Networks, Studio Execs and Unions

WASHINGTON Federal Communications Commission member Anna Gomez has wrapped up two weeks in California visiting broadcasters, television studio executives, enter...

13/06/2025

House Passes Rescission Package That Would Claw Back CPB Funding

WASHINGTON The U.S. House of Representatives voted mostly along party lines to approve a rescission package that would cancel $9.4 billion in previously approve...

13/06/2025

AJA Debuts DRM2-Plus Mini-Converter Frame at InfoComm 202...

At InfoComm 2025, AJA Video Systems announced DRM2-Plus, an intuitive, high-capacity 3RU frame that can neatly house up to 24 AJA Mini-Converters. Tailored to s...

13/06/2025

National CineMedia Selects Operatives Suite of AI-Based C...

Cinema advertising leader to leverage AOS and suite of AI-enabled solutions to optimize forecasting, yield management, and streamlined ad sales and operations a...

13/06/2025

Manfrotto Unveils Unique New Tripod System for Mirrorless...

Manfrotto has launched the ONE Hybrid Tripod, a new support system designed specifically for professional content creators working with mirrorless cameras acros...

13/06/2025

Synamedia unveils security enhancements to its Media Edge...

Leading video software provider, Synamedia, today announced that its Media Edge Gateway (MEG), an ATSC 3.0 software-based IRD, now supports Device Security requ...

13/06/2025

LiveU Strengthens Presence in DACH Region with Strategic...

LiveU, the global leader in live IP-video contribution, production and distribution solutions, is deepening its commitment to the German-speaking market with th...

13/06/2025

Chaos Adds AI Tools Faster Animation Renders and More Sty...

Chaos, the leader in architectural visualisation software, today announces Chaos Corona 13, giving archviz designers new ways to add eye-catching style and flai...

13/06/2025

PALI's Nena Music Video Shot with Blackmagic Design

PALI's Nena Music Video Shot with Blackmagic Design Brie Clayton June 12, 2025 0 Comments Blackmagic Cinema Camera 6K and DaVinci Resolve Studio b...

13/06/2025

OddBeast Powers Up iRobot's Newest Roombas with Suite of CGI Launch Assets

OddBeast Powers Up iRobot's Newest Roombas with Suite of CGI Launch Assets Brie Clayton June 12, 2025 0 Comments The motion design and production ...

13/06/2025

On Chick Coreas Birthday, a Newly Uncovered Archival Release

On Chick Coreas Birthday, a Newly Uncovered Archival Release The Visitors, composed by Corea and performed by vibraphonist Gary Burton and pianist Kirill Gers...

13/06/2025

RT Seeks Expressions of Interest for on-air presenting roles on RT Radio 1 and RT News & Current Affairs Output

In fulfilment of a recommendation by the Government's Expert Advisory Commit...

13/06/2025

SVG Sit-Down: Backblaze's Gleb Budman Talks Products, Partnerships, and the Growth in Cloud Storage

SVG Sit-Down: Backblaze's Gleb Budman Talks Products, Partnerships, and the ...

13/06/2025

SVG Sit-Down: DAZN's Walker Jacobs Calls Streaming the FIFA Club World Cup The Most Ambitious Thing We've Ever Done in the U.S.'

SVG Sit-Down: DAZN's Walker Jacobs Calls Streaming the FIFA Club World Cup ...

13/06/2025

New Sponsor Spotlight: Vecima Networks' Paul Strickland on How Improving QoE for Sports Fans Can Deliver Real ROI

New Sponsor Spotlight: Vecima Networks' Paul Strickland on How Improving QoE...

13/06/2025

Pitch Perspective: Where's Next for Specialty Cameras in Soccer?

Pitch Perspective: Where's Next for Specialty Cameras in Soccer? Leaders from Sky Austria and ACS discuss the possibilities of camera placement pitchside B...

13/06/2025

Premiership Rugby Final 2025: Vintage Clash Between Bath and Leicester Gets Full TNT Sports Treatment with AR, RefCam 3.0 and Player Mic

Premiership Rugby Final 2025: Vintage clash between Bath and Leicester gets full...

13/06/2025

Premiership Rugby Final 2025: TNT Sports Gears Up for Bath vs Leicester Battle with Huge Uptick in Season Audience Views

Premiership Rugby Final 2025: TNT Sports gears up for Bath vs Leicester battle w...

13/06/2025

NCAA Men's College World Series: ESPN Adds Two-Point SupraCam, Invests in Nearly 100 Mics to Enhance Audio

NCAA Men's College World Series: ESPN Adds Two-Point SupraCam, Invests in Ne...

13/06/2025

New FSWX signal and spectrum analyzer with novel architecture overcomes limits of todays analysis methods

New FSWX signal and spectrum analyzer with novel architecture overcomes limits o...

13/06/2025

2025-05-28

Apple today announced the addition of iPad to Self Service Repair, providing iPad owners with access to repair manuals, genuine Apple parts, Apple Diagnostics t...

13/06/2025

2025-06-09

CUPERTINO, CALIFORNIA Apple today previewed iOS 26, a major update that brings a beautiful new design, intelligent experiences, and improvements to the apps use...

13/06/2025

2025-06-10

At Apple's Worldwide Developers Conference (WWDC), Apple unveiled Apple Games, an all-new destination designed to help players jump back into the games they...

13/06/2025

NVIDIA and Deutsche Telekom Partner to Advance Germany's Sovereign AI

Industrial AI isn't slowing down. Germany is ready. Following London Tech Week and GTC Paris at VivaTech, NVIDIA founder and CEO Jensen Huang's Europea...

12/06/2025

Spotify's Heart & Soul Initiative Brings Mental Health Support to Artists and Creators Worldwide

In 2018, Spotify launched Heart & Soul, a mental health initiative developed to ...

12/06/2025

50 Years Strong: SBS and NITV Supercharge NAIDOC Week 2025 in a joint 50th celebration

50 Years Strong: SBS and NITV Supercharge NAIDOC Week 2025 in a joint 50th celeb...

12/06/2025

Belgium's Ministry of Defence Selects L3Harris T4 Robots for Explosive Ordnance Disposal Missions

Medium-sized L3Harris T4 robots provide advanced control and precision for inspe...

12/06/2025

The future of Sport: Nielsen's 2025 report reveals growth drivers

Over a third of global football fans find brand sponsorship appealing and 41% of all sports sponsorships are in that sport. The FIFA World Cup 2026TM will open...