VEON enters the final stages in the sale of its Russia operations
May 30 2023 - 8:30AM
Amsterdam, Netherlands, 30 May
2023 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON),
a global digital operator that provides converged connectivity and
online services, today announces that it has submitted all
necessary documentation to Euroclear, Clearstream and registrars
for cancellation of VEON’s Eurobonds held by its subsidiary, PJSC
VimpelCom. With this, the Company enters the final stages in the
closing of the sale of VEON’s Russia operations, which was
announced on 24 November 2022.
According to the terms of the VEON Bonds, the
registrar is required to cancel the VEON Bonds purchased by a
subsidiary of VEON and surrendered to the registrar for
cancellation. Both conditions to cancellation have now been
met.
Kaan Terzioğlu, CEO of VEON Group, said: “The
cancellation of VEON’s Eurobonds will pave the way for VEON to exit
Russia in a way that we believe to be the optimal outcome for all
our stakeholders – including our investors, creditors, customers
and employees. This cancellation is a non-cash transaction
necessary for our timely exit from Russia; and protects VEON and
its investors from a risk of double payments in the future. We look
forward to the completion of this cancellation, a milestone in the
closing of the sale of VEON’s Russia operations.”
About VEON VEON is a
global digital operator that currently provides converged
connectivity and online services to over 160 million customers in 6
dynamic markets. We are transforming people’s lives, empowering
individuals, creating opportunities for greater digital inclusion
and driving economic growth across countries that are home to more
than 7% of the world’s population. 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, the closing of
the transactions described above. 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. There can be no assurance that the
initiatives referred to above will be successful. Elements of this
press release contain or may contain “inside information” as
defined under the Market Abuse Regulation (EU) No.
596/2014.
Contact informationVEON
Senior Communications Manager Anna Ivanova-Galitsina
pr@veon.com
TUVA Partners Managing Partner Julian Tanner
Julian.tanner@tuvapartners.com
VEON (NASDAQ:VEON)
Historical Stock Chart
From Apr 2024 to May 2024
VEON (NASDAQ:VEON)
Historical Stock Chart
From May 2023 to May 2024