International holding VEON, which owns Kyivstar, has finally exited the Russian market
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The global digital communications operator VEON (office in the Netherlands) announced the completion of its withdrawal from Russia and the sale of the Russian asset Vimpelcom. The terms of the agreement do not provide for the possibility of repurchase, that is, the completion of operations on the Russian market is complete and final for VEON.
As Oleksandr Komarov, president of Kyivstar, comments, “after a long series of legal procedures, our 100% shareholder VEON puts an end to relations with the Russian telecom market.
This will mean strengthening the company’s development strategy in six other markets, including Ukraine.” In particular, in the next three years, VEON plans to invest $600 million in Ukraine, which will be directed to the reconstruction of the telecom network and the development of digital services and new mobile technologies.
Oleksandr Komarov emphasized that the Kyivstar company is operating as usual, and from the beginning full-scale invasion of Russia has already invested UAH 8.2 billion in the development of the country’s telecom market, paid UAH 15.2 billion in taxes to the state, and also provided support to state bodies, the military, security and law enforcement agencies in the amount of more than UAH 1.4 billion, including bonuses and services without additional payment in the amount of UAH 577 million.
In addition, Kyivstar is currently preparing the network for operation in conditions of possible power outages, for which it has invested UAH 988 million. By the end of 2023, 110,000 new batteries will be installed at Kyivstar base stations.
Help about Kyivstar
Kyivstar is the largest Ukrainian electronic communications operator, which as of June 2023 served 24.1 million mobile subscribers and more than 1.1 million “Home Internet” subscribers.
The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, services for cyber protection, digital TV, etc.
Kyivstar helps subscribers, society and the country overcome the difficulties of wartime. Since the beginning of the full-scale war, the company has allocated more than UAH 1.4 billion in aid to the state, the military, society, and subscribers.
The sole shareholder of Kyivstar is the international VEON Group. The Group’s shares are freely traded on the NASDAQ (New York) and Euronext (Amsterdam) stock exchanges. Kyivstar has been working in Ukraine for more than 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company.
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