Veon finally completes Russia exit

VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), today announces that it has completed its exit from Russia with the closing of the sale of its Russian operations to a group of senior members of the PJSC VimpelCom management team, led by VimpelCom CEO Alexander Torbakhov.

As previously announced, the transaction does not provide for any buy-back arrangements and signifies a complete exit from the Russian market for VEON – a company that serves six exciting and high-potential emerging markets, delivering higher growth and operating with a lower leverage and ample liquidity.

VEON Group CEO Kaan Terzioglu commented: “The closing of the sale and the completion of our exit from Russia allow us to fully focus our energy on the way forward, meeting the growing demand in our markets – Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan – with our digital operator strategy. I am pleased to note that we are now in a much stronger position to deliver our strategic priorities. We would like to thank all our stakeholders and regulatory bodies, including U.S. Treasury, who have supported our Company through this process.”

CT Bureau