VEON (VEON) Company Report

VEON's software company QazCode and sovereign AI firm MeetKai have signed a strategic cooperation agreement to develop and train next-generation large language models (LLMs).
The partnership aims to deploy local-language agentic AI services across VEON’s operating markets, focusing on creating nationally governed AI capabilities that are culturally fluent, linguistically inclusive, and securely operated within each country's borders.
This collaboration is expected to scale safe, locally relevant AI digital services for over 150 million customers across Kazakhstan, Uzbekistan, Ukraine, Pakistan, and Bangladesh, potentially impacting sectors such as education, healthcare, and enterprise productivity.

Nov 25, 2025, 4:15 PM

VEON Reports Q3 2025 Financials, Compleizes Strategic Transactions, and Addresses Going Concern

VEON

Earnings

M&A

Share Buyback

For the nine-month period ended September 30, 2025, VEON reported a profit before tax of $729 million and net cash flows from operating activities of $892 million. Total revenue for the three-month period ended September 30, 2025, was $1,115 million, with Adjusted EBITDA of $524 million.
VEON completed the sale of its Pakistan tower portfolio on June 3, 2025, and its subsidiary Kyivstar Group began trading on Nasdaq under "KYIV" on August 14, 2025, which reduced VEON's interest to 89.6%. Additionally, Kyivstar acquired Ukrainian ride-hailing platform Uklon for $158 million on April 2, 2025.
The company successfully raised $210 million through a syndicated term loan and $200 million via a private bond placement, while repaying $472 million in Senior Notes and $100 million in RUB Senior Notes during the nine-month period ended September 30, 2025.
VEON completed three phases of its share buyback program, repurchasing $100 million worth of shares, and authorized a new $100 million buyback program on November 17, 2025.
Management concluded that the material uncertainty regarding the company's ability to continue as a going concern no longer exists, citing successful capital market access, new financing, and compliance with loan covenants as of September 30, 2025.

Nov 24, 2025, 5:22 PM

VEON Commences USD 100 Million Buyback Program

VEON

Share Buyback

VEON Ltd. has commenced a USD 100 million buyback program on November 17, 2025.
The program authorizes the company to repurchase ADSs and/or outstanding bonds, with the final allocation between equity and debt securities to be determined by prevailing market conditions.
VEON views its equity as materially undervaluing the company's fundamentals and cash generation, and bond repurchases would allow it to capture discounts and lower future interest obligations.

Nov 17, 2025, 3:56 PM

VEON's Beeline Kazakhstan to Acquire OLX Kazakhstan

VEON

M&A

New Projects/Investments

VEON Ltd.'s Kazakh operating company, Beeline Kazakhstan, has agreed to acquire 100% of the Kazakh online classifieds business OLX Kazakhstan from OLX Group for a total consideration of USD 75 million.
As of June 30, 2025, OLX Kazakhstan had approximately 10 million monthly active users and 3.6 million listings, and was visited monthly by more than 52% of Kazakhstan's active internet users.
The acquisition is intended to enhance Beeline Kazakhstan's digital operator offering to customers and integrate OLX KZ into its digital services ecosystem.

Oct 21, 2025, 5:32 PM

VEON and Kyivstar Announce Investor Meeting and Q2 2025 Results Discussion

VEON

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

VEON Ltd. and Kyivstar Group Ltd. announced an investor meeting on August 28, 2025, to provide an update on Kyivstar's strategic initiatives, financial performance, and market outlook, including key developments from their Q2 2025 results.
Kyivstar is Ukraine's leading digital operator, serving 22.4 million mobile customers and 1.1 million home internet fixed line customers as of June 30, 2025. Together with VEON, Kyivstar intends to invest USD 1 billion in Ukraine during 2023-2027.
Kyivstar reported H1 2025 revenue of UAH 22.4 billion ($539 million) and Adjusted EBITDA of UAH 12.7 billion ($306 million), demonstrating a 37% growth in revenue and 41% growth in Adjusted EBITDA year-over-year in UAH.
As of August 27, 2025, Kyivstar's market capitalization was $2,822 million with an enterprise value of $2,534 million.

Aug 28, 2025, 12:18 PM

Earnings Transcripts

Quarterly earnings call transcripts for VEON.

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