VEON Completes Sale of Beeline Kyrgyzstan
VEON Ltd. (Nasdaq: VEON) has completed the sale of its 50.1% indirect stake in Sky Mobile LLC (Beeline Kyrgyzstan) to state-owned Eldik Bank. The transaction occurred after the Kyrgyz Government exercised its right of first refusal, following VEON's initial intent to sell to CG Cell Technologies in March 2024.
The divestment aligns with VEON's strategy to simplify its group structure and optimize its portfolio, focusing on markets with larger populations and opportunities for scalable digital businesses. The sale was executed through Menacrest AG, with Eldik Bank paying the full transaction value upon completion.
VEON Ltd. (Nasdaq: VEON) ha completato la cessione della sua partecipazione indiretta del 50,1% in Sky Mobile LLC (Beeline Kyrgyzstan) alla banca statale Eldik Bank. La transazione 猫 avvenuta dopo che il governo kirghiso ha esercitato il suo diritto di prelazione, a seguito dell'iniziale intenzione di VEON di vendere a CG Cell Technologies nel marzo 2024.
La dismissione 猫 in linea con la strategia di VEON di semplificare la struttura del gruppo e ottimizzare il portafoglio, concentrandosi su mercati con popolazioni pi霉 ampie e opportunit脿 per attivit脿 digitali scalabili. La cessione 猫 stata eseguita tramite Menacrest AG, con Eldik Bank che ha corrisposto l'intero valore della transazione al completamento.
VEON Ltd. (Nasdaq: VEON) ha completado la venta de su participaci贸n indirecta del 50,1% en Sky Mobile LLC (Beeline Kyrgyzstan) al banco estatal Eldik Bank. La operaci贸n se produjo despu茅s de que el Gobierno kirgu铆s ejerciera su derecho de tanteo, tras la intenci贸n inicial de VEON de vender a CG Cell Technologies en marzo de 2024.
La desinversi贸n encaja con la estrategia de VEON de simplificar la estructura del grupo y optimizar su cartera, centr谩ndose en mercados con mayor poblaci贸n y oportunidades para negocios digitales escalables. La venta se ejecut贸 a trav茅s de Menacrest AG, y Eldik Bank pag贸 el importe total de la transacci贸n al cierre.
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VEON Ltd. (Nasdaq: VEON) a finalis茅 la cession de sa participation indirecte de 50,1% dans Sky Mobile LLC (Beeline Kyrgyzstan) 脿 la banque d'脡tat Eldik Bank. L'op茅ration a eu lieu apr猫s que le gouvernement kirghize ait exerc茅 son droit de pr茅emption, suite 脿 l'intention initiale de VEON de vendre 脿 CG Cell Technologies en mars 2024.
Ce d茅sinvestissement s'inscrit dans la strat茅gie de VEON visant 脿 simplifier la structure du groupe et 脿 optimiser son portefeuille, en se concentrant sur des march茅s 脿 plus forte population et sur des opportunit茅s pour des activit茅s num茅riques 茅volutives. La vente a 茅t茅 r茅alis茅e via Menacrest AG ; Eldik Bank a r茅gl茅 l'int茅gralit茅 du montant de la transaction 脿 la cl么ture.
VEON Ltd. (Nasdaq: VEON) hat den Verkauf ihrer indirekten 50,1%-Beteiligung an Sky Mobile LLC (Beeline Kyrgyzstan) an die staatliche Eldik Bank abgeschlossen. Die Transaktion erfolgte, nachdem die Regierung Kirgisistans ihr Vorkaufsrecht ausge眉bt hatte; urspr眉nglich hatte VEON im M盲rz 2024 einen Verkauf an CG Cell Technologies beabsichtigt.
Der Verkauf steht im Einklang mit der Strategie von VEON, die Konzernstruktur zu vereinfachen und das Portfolio zu optimieren, wobei der Fokus auf M盲rkten mit gr枚脽erer Bev枚lkerung und Chancen f眉r skalierbare digitale Gesch盲fte liegt. Die Abwicklung erfolgte 眉ber Menacrest AG; Eldik Bank zahlte den vollen Transaktionsbetrag bei Vollzug.
- Strategic portfolio optimization focusing on larger markets
- Full transaction value received upon completion
- Successful exit from non-core market
- Loss of established 4G network presence in Kyrgyzstan
- Reduction in geographical market diversity
Dubai, August 13, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (鈥淰EON鈥�), announces that it has completed the sale of its
This transaction follows VEON鈥檚 previously announced strategy to simplify its group structure and optimize its portfolio, focusing on countries with larger populations and with opportunities to grow multiple scalable digital businesses in addition to its connectivity offerings.
The sale was conducted through Menacrest AG, the parent company of Sky Mobile LLC1. After VEON announced its intent to sell its stake in Beeline Kyrgyzstan to CG Cell Technologies on March 26, 2024, the Government of the Kyrgyz Republic exercised its right of first refusal and designated Eldik Bank, a state-owned financial institution, to acquire
鈥淭he sale of our Kyrgyzstan operations marks another important step in VEON鈥檚 portfolio optimization,鈥� said Kaan Terzioglu, VEON Group CEO. 鈥淏eeline Kyrgyzstan has excelled in expanding 4G coverage and advancing our digital operator model, and we are confident this exceptional team will continue to thrive under Eldik Bank鈥檚 ownership. We thank our joint venture partner, Verny Capital, and the Government of Kyrgyzstan.鈥�
About VEON
VEON is a Nasdaq-listed digital operator that provides converged connectivity and digital services to over 160 million customers. Operating across five countries that are home to more than
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This release contains 鈥渇orward-looking statements,鈥� 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鈥檚 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.
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Hande Asik
Group Director of Communications and Strategy
1 VEON holds a
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FAQ
What is the reason for VEON selling Beeline Kyrgyzstan?
Who purchased VEON's stake in Beeline Kyrgyzstan?
When did VEON initially announce its intent to sell Beeline Kyrgyzstan?
How much did VEON own in Beeline Kyrgyzstan before the sale?
What happened to VEON's original sale agreement with CG Cell Technologies?
