VEON and Kyivstar set in motion their 600m USD investment plan with Kyiv visit, Mike Pompeo joins the delegation
February 05 2024 - 9:00AM
VEON and Kyivstar set in motion their 600m USD investment plan with
Kyiv visit, Mike Pompeo joins the delegation
Kyiv, 5 February 2024 – VEON Ltd. (NASDAQ:
VEON, Euronext Amsterdam: VEON), a global digital operator that
provides converged connectivity and online services, and its
wholly-owned subsidiary Kyivstar announce that they have now
officially started the implementation of the 600 million USD
investment commitment in rebuilding Ukraine, as initially announced
in June 2023. VEON’s commitment to invest in Ukraine, including the
600 million USD plan that covers the three-year period from
2024-2026, was the focus of a visit last week by a high-level
delegation to Kyiv. Former U.S. Secretary of State Michael R.
Pompeo joined the delegation, visiting Kyiv for the first time
after joining Kyivstar as a Board member in November 2023.
Following up on their “Invest in Ukraine, NOW!” campaign, VEON
and Kyivstar have also co-hosted “B2U: Business to Ukraine”, a
business and investment forum in Kyiv. During the Forum, more than
100 representatives of Ukraine’s leading businesses held
discussions on improving the investment climate in the country,
which is expected in turn to support the flow of international
business to Ukraine, contributing to the country’s economic
resilience.
Kyivstar, the country’s largest
telecommunications company and one of the highest taxpayers,
invested roughly 174m USD in capex in 2023, and expects to widen
the scope of its future investment commitment from 600m USD in 3
years to 1 billion USD in 5 years, if market conditions permit.
“I am excited to be back in Kyiv, now as part of
the VEON family in my role on the Board of Directors of Kyivstar.
Ukraine must win this war, both on the battlefield and
economically. The private sector, especially international
investors, has a crucial role to play to ensure this victory, which
I believe is understood and appreciated by all stakeholders. I am
inspired to see the incredible dedication of VEON and Kyivstar, and
of the other private sector companies that continue to serve
Ukrainians with commitment and perseverance,” said Mike Pompeo,
Former U.S. Secretary of State and Kyivstar Board member.
“In the first days of the war, we at VEON made a
decision and chose to serve Ukraine. I would like to thank our
international investors for supporting us through our exit from
Russia, which we completed in October 2023, and our continued focus
on investing in Ukraine, including the 600 million USD commitment
which we are setting in motion starting with this year. VEON
and Kyivstar will be a part of Ukraine’s future, and we will
continue to work day and night to make the future victorious,
successful and inspiring.” said Kaan Terzioglu, VEON Group
CEO.
“This year marks the beginning of an ambitious
journey for Kyivstar, as we launch the investments within the scope
of our three-year commitment to invest 600 million USD. With the
support of our parent company VEON, the guidance of Kyivstar Board
of Directors, which is now stronger than ever with Secretary
Pompeo, the unwavering dedication of our 4000-strong team, and the
continued appreciation of our 24 million customers, Kyivstar is a
leading example of a company that rises to the challenge of
rebuilding Ukraine today – overcoming all odds and never losing the
focus,” said Oleksandr Komarov, Kyivstar CEO.
VEON is the parent company and the 100% owner of
Kyivstar, the largest telecoms operator in Ukraine, that serves 24
million customers with mobile and fixed connectivity and digital
services, keeping Ukrainians connected at home and abroad through
very challenging conditions. Headquartered in Amsterdam, the
Netherlands, VEON is a Nasdaq- and Euronext Amsterdam-listed
company with a global investor base. VEON Group’s digital operators
serve nearly 160 million customers in Pakistan, Ukraine,
Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan with connectivity
and digital services and contribute to the growth of 6 markets that
are together home to more than 510 million people.
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. 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.
Contact Information
VEON Hande Asik Group Director of
Communication pr@veon.com
TUVA Partners Julian Tanner
julian.tanner@tuvapartners.com
- VEON Kyivstar
- Mike Pompeo and Oleksandr Komarov
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