Latest news with #VEON
Yahoo
14 hours ago
- Business
- Yahoo
VEON and Engro Corporation Complete Pioneering Infrastructure Partnership in Pakistan
Islamabad and Dubai, June 3, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator ('VEON' or 'the Company'), announces that it has successfully closed the partnership for the pooling and management of telecommunications infrastructure assets in Pakistan with Engro Corporation Limited ('Engro Corp'). VEON's infrastructure assets housed under Deodar (Private) Limited have now vested into Engro Connect, a subsidiary of Engro Corp. 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. "Completion of this partnership marks another milestone in the execution of our asset-light strategy. Thanks to the visionary approach of Pakistani authorities, which enabled the successful completion of this partnership, Jazz can now further accelerate its transformation into a services company, with a connectivity-powered digital portfolio spanning financial services, entertainment, healthcare, and enterprise services for both consumers and businesses. We look forward to a fruitful partnership with Engro Corp and to contributing to our shared mission of strengthening Pakistan's digital economy,' said Kaan Terzioglu, VEON Group CEO and Chairman of Jazz Board. The scheme of arrangement was completed at an enterprise value of USD 562.7 million. The partnership, which was originally announced on December 5, 2024, obtained regulatory approvals in May 2025. 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: 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 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. VEONHande Asik Group Director of Communicationspr@
Time of India
7 days ago
- Business
- Time of India
VEON considering dual listing in the UAE in 3-5 years
By Federico Maccioni DUBAI : Nasdaq-listed telecom company VEON is considering a dual listing in the United Arab Emirates (UAE) in the next three to five years, its CEO said on Wednesday, after moving its headquarters to Dubai from Amsterdam last year. VEON is the parent company of Ukraine's Kyivstar and Pakistan's Jazz, the two countries' largest mobile operators, respectively. "We have of course moved our headquarters with all the intentions about the future relevance for these markets," CEO Kaan Terzioglu said during an event in Dubai. "At a certain point I think this (a UAE listing) will be inevitable." Terzioglu added that investors in the Gulf region had a better understanding of VEON's markets. VEON is shifting to a "digital operator" strategy, offering financial, healthcare and entertainment services in addition to mobile connectivity. It also operates in Uzbekistan, Kazakhstan, Kyrgyzstan and Bangladesh. Terzioglu said VEON might also consider initial public offerings (IPO) of its subsidiaries in the UAE along the same timeline. Kyivstar is already planning a U.S. listing later this year with a pro-forma valuation of $2.21 billion. Asked whether the company might look to expand to other markets in the Middle East, Terzioglu said that Iraq and Syria would play an important role in the future and that the firm was in talks with investors there. "I believe, especially the changes in Syria, (with) the new government being in place, basically, the country is reborn. And it perfectly fits into a large population, unmet demand market," he said. He said, however, that more work was needed in terms of regulations, tax regimes before the company could make a definitive commitment in Syria. Terzioglu added that VEON, which recently signed an exclusive partnership with Elon Musk's Starlink to develop and provide direct-to-cell connectivity in Ukraine, was in talks with the company over potential partnerships across the other markets where it operates. VEON is also in talks for partnerships with other satellite companies including ASD and Eutelsat's OneWeb.
Reuters
7 days ago
- Business
- Reuters
VEON considering dual listing in the UAE in 3-5 years
DUBAI, May 28 (Reuters) - Nasdaq-listed telecom company VEON ( opens new tab, is considering a dual listing in the United Arab Emirates (UAE) in the next three to five years, its CEO said on Wednesday, after moving its headquarters to Dubai from Amsterdam last year. VEON is the parent company of Ukraine's Kyivstar and Pakistan's Jazz, the two countries' largest mobile operators, respectively. "We have of course moved our headquarters with all the intentions about the future relevance for these markets," CEO Kaan Terzioglu said during an event in Dubai. "At a certain point I think this (a UAE listing) will be inevitable." Terzioglu added that investors in the Gulf region had a better understanding of VEON's markets. VEON is shifting to a "digital operator" strategy, offering financial, healthcare and entertainment services in addition to mobile connectivity. It also operates in Uzbekistan, Kazakhstan, Kyrgyzstan and Bangladesh. Terzioglu said VEON might also consider initial public offerings (IPO) of its subsidiaries in the UAE along the same timeline. Kyivstar is already planning a U.S. listing later this year with a pro-forma valuation of $2.21 billion. Asked whether the company might look to expand to other markets in the Middle East, Terzioglu said that Iraq and Syria would play an important role in the future and that the firm was in talks with investors there. "I believe, especially the changes in Syria, (with) the new government being in place, basically, the country is reborn. And it perfectly fits into a large population, unmet demand market," he said. He said, however, that more work was needed in terms of regulations, tax regimes before the company could make a definitive commitment in Syria. Terzioglu added that VEON, which recently signed an exclusive partnership with Elon Musk's Starlink to develop and provide direct-to-cell connectivity in Ukraine, was in talks with the company over potential partnerships across the other markets where it operates. VEON is also in talks for partnerships with other satellite companies including ASD and Eutelsat ( opens new tab's OneWeb.
Yahoo
23-05-2025
- Business
- Yahoo
Tashkent hosts GSMA M360 as Eurasia's digital economy grows
The summit highlights the growing role of digital technologies in the region's economic development and coincides with the release of the GSMA's latest Mobile Economy Eurasia report. The report projects that mobile technologies will contribute €238 billion to Eurasia's economy by 2030, equivalent to 8.3% of the region's GDP. This forecast is driven by the growth of smartphone usage, expanded internet access, and the accelerating rollout of 5G networks. The choice of Tashkent as host city reflects Uzbekistan's rising profile as a regional digital leader. Since launching wide-ranging reforms in 2017, the country has opened up its economy, encouraged foreign investment, and promoted innovation in the tech sector. Today, Uzbekistan is home to more than 9,700 ICT companies and 200,000 tech professionals, with services exported to 90 countries and a total turnover of €4.1 billion. 'Uzbekistan has undergone one of the most successful transformations in the world,' Kaan Terzioğlu, CEO of VEON, said. 'With a population of 40 million and over one million babies born every year, the country is demographically strong and full of potential.' Vivek Badrinath, Director General of GSMA, stressed the broader economic impact of mobile sector growth. 'A $1 increase in the mobile economy generates $6 in GDP. When governments create investment-friendly environments and key sectors like banking or transport integrate mobile tech, the benefits are shared by all,' he said. A key highlight of the summit is the unveiling of the Kazakh Large Language Model, developed through a partnership between Kazakh researchers, QazCode, the Barcelona Supercomputing Center, and the GSMA Foundry. The AI model supports Kazakh, Turkish, English, and Russian, addressing a crucial gap in local language technologies. Meanwhile, Uzbekistan continues to encourage innovation through initiatives like the Presidential $1 million tech award, aimed at supporting start-ups and digital entrepreneurship. Sherzod Shermatov, Minister of Digital Technologies, pointed to recent app launches that integrate IT, tourism, and business services - generating over 2,000 international user interactions in just one week. Neighbouring Kazakhstan is also advancing its digital infrastructure. Zhaslan Madiyev, Minister of Digital Development, Innovations, and Aerospace Industry, emphasised the country's commitment to AI and digital infrastructure saying, 'We are building our AI ecosystem with initiatives such as the creation of a national AI Center. This center will support research, education, and startups, playing a crucial role in nurturing the entire ecosystem.' Despite advances some challenges remain. According to the GSMA, around 80 million people in Eurasia remain offline, despite having mobile network coverage. Addressing this "usage gap" will be key to ensuring inclusive digital growth across the region. GSMA initiatives such as its collaboration with IBM — offering members access to the platform — and joint efforts with the European Space Agency on Non-Terrestrial Networks, aim to enhance connectivity and bridge the digital divide. As Tashkent takes the spotlight during M360 Eurasia, Uzbekistan positions itself as a key player in shaping the region's digital future — one increasingly defined by innovation, inclusion, and international cooperation. Sign in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Tashkent hosts GSMA M360 as Eurasia's digital economy grows
The summit highlights the growing role of digital technologies in the region's economic development and coincides with the release of the GSMA's latest Mobile Economy Eurasia report. The report projects that mobile technologies will contribute €238 billion to Eurasia's economy by 2030, equivalent to 8.3% of the region's GDP. This forecast is driven by the growth of smartphone usage, expanded internet access, and the accelerating rollout of 5G networks. The choice of Tashkent as host city reflects Uzbekistan's rising profile as a regional digital leader. Since launching wide-ranging reforms in 2017, the country has opened up its economy, encouraged foreign investment, and promoted innovation in the tech sector. Today, Uzbekistan is home to more than 9,700 ICT companies and 200,000 tech professionals, with services exported to 90 countries and a total turnover of €4.1 billion. 'Uzbekistan has undergone one of the most successful transformations in the world,' Kaan Terzioğlu, CEO of VEON, said. 'With a population of 40 million and over one million babies born every year, the country is demographically strong and full of potential.' Vivek Badrinath, Director General of GSMA, stressed the broader economic impact of mobile sector growth. 'A $1 increase in the mobile economy generates $6 in GDP. When governments create investment-friendly environments and key sectors like banking or transport integrate mobile tech, the benefits are shared by all,' he said. A key highlight of the summit is the unveiling of the Kazakh Large Language Model, developed through a partnership between Kazakh researchers, QazCode, the Barcelona Supercomputing Center, and the GSMA Foundry. The AI model supports Kazakh, Turkish, English, and Russian, addressing a crucial gap in local language technologies. Meanwhile, Uzbekistan continues to encourage innovation through initiatives like the Presidential $1 million tech award, aimed at supporting start-ups and digital entrepreneurship. Sherzod Shermatov, Minister of Digital Technologies, pointed to recent app launches that integrate IT, tourism, and business services - generating over 2,000 international user interactions in just one week. Neighbouring Kazakhstan is also advancing its digital infrastructure. Zhaslan Madiyev, Minister of Digital Development, Innovations, and Aerospace Industry, emphasised the country's commitment to AI and digital infrastructure saying, 'We are building our AI ecosystem with initiatives such as the creation of a national AI Center. This center will support research, education, and startups, playing a crucial role in nurturing the entire ecosystem.' Despite advances some challenges remain. According to the GSMA, around 80 million people in Eurasia remain offline, despite having mobile network coverage. Addressing this "usage gap" will be key to ensuring inclusive digital growth across the region. GSMA initiatives such as its collaboration with IBM — offering members access to the platform — and joint efforts with the European Space Agency on Non-Terrestrial Networks, aim to enhance connectivity and bridge the digital divide. As Tashkent takes the spotlight during M360 Eurasia, Uzbekistan positions itself as a key player in shaping the region's digital future — one increasingly defined by innovation, inclusion, and international cooperation. Sign in to access your portfolio
