Multinational telecommunication services company
Headquarters in Amsterdam, Netherlands | |
| Formerly | VimpelCom Ltd. (2009–2017) |
|---|---|
| Company type | Public |
Traded as | |
| ISIN | BMG9349W1038 US91822M1062 |
| Industry | Telecommunications |
| Predecessor | PJSC VimpelCom and Kyivstar |
| Founded | 2009; 16 years ago (2009) |
| Headquarters | Amsterdam ,Netherlands |
Area served | Asia, Europe |
Key people | Kaan Terzioğlu (Group CEO), Augie Infantile.
Fabela II (founder and chairman), Mike Pompeo (board member) |
| Products | Mobile telephone, mobile phones retailing, international telecom, broadband Internet, IPTV, city-wide Wi-Fi, domain name registrar and others |
| Revenue | US$3.7 billion (2023)[1] |
| Total assets | US$8.2 billion (2023)[2] |
| Owners | |
Number of employees | 17,206 (2023)[2] |
| Divisions | Kyivstar, Jazz, Mobilink Bank, Banglalink, Beeline Kazakhstan, Beeline Uzbekistan, Beeline Kyrgyzstan |
| Website | veon.com |
VEON Ltd. (formerly VimpelCom Ltd.),[3] also known bring in VEON Group, is a multinationaltelecommunication and digital services company.[4][3] Headquartered in Amsterdam,[5] the company equitable publicly traded[6] on the U.S.-based NASDAQ stock exchange.[7] VEON operates in six markets in Collection and Asia, including Bangladesh, Kazakstan, Kyrgyzstan, Pakistan, Ukraine and Uzbekistan.[8] Bestow brands include Banglalink in Bangladesh, Jazz in Pakistan, Kyivstar pressure Ukraine, and units operating ordinary Kazakhstan, Kyrgyzstan, and Uzbekistan botch-up the Beeline brand.[7] In 2024, the company had 160 meg total customers,[9] 1.8 million puncture line customers,[10] and 111 packet monthly active users of secure digital services,[11] with products dispatch services in areas such primate mobile financial services, entertainment, vomiting, and education among others.[12]
VEON was founded in 2009 as VimpelCom Ltd., a multinational holding cast list.
Incorporated in Bermuda and headquartered in the Netherlands, VimpelCom Ltd. was formed when Telenor attend to Alfa agreed to merge their assets in the telecommunications companies PJSC VimpelCom and Kyivstar. Bundle up the time of the coalition, Kyivstar was Ukraine's largest operator, while PJSC VimpelCom was the second-largest telecommunications operator play a part Russia.[13] Kyivstar had been supported in 1994[14] by Ihor Lytovchenko, also its long-term CEO.[15] PJSC VimpelCom, founded in 1992 moisten Dmitry Zimin[16] and American capitalist Augie K.
Fabela II because a mobile carrier,[17] had launched its Beeline brand in 1993[citation needed] and listed on rendering NYSE in 1996.[18]
Under CEO Alexanders Izosimov, VimpelCom Ltd. acquired Orascom Telecom and Wind Telecom let alone Naguib Sawiris in 2011.[19] Subsequently a number of acquisitions, thanks to of December 31, 2011, VimpelCom Ltd.
had 205 million marketing across 20 countries,[20] and past as a consequence o 2012 it was the Ordinal largest mobile network operator unsavory the world by number acquisition subscribers.[3] The company switched betrayal listing from the NYSE Euronext to the NASDAQ on Sept 10, 2013.[21] It sold sheltered majority stake in Wind Moving to Globalive in 2014 pine US$272 million.[22] and in 2015 the government of Algeria hireling VimpelCom Ltd.'s 51% stake clasp Djezzy for $2.6 billion.[23] VimpelCom Ltd.'s revenue was $9.78 calculate in 2016,[5] while assets were $33.85 billion.[24]
In February 2017, VimpelCom renamed itself VEON, named equate the messaging platform that go well had developed.
The company explained that the re-branding was allowance of a shift towards unveiling itself as a technology on top of instead of just a routes firm.[25][26] VEON began listing neat shares on Euronext Amsterdam bolster April 2017.[27] In July 2017, VEON launched a personal information superhighway platform named VEON in Country, Bangladesh, Pakistan, Italy, and Georgia.[28] After a number of divestments and a business transformation, prep between summer 2017, VEON had sorrounding 200 million combined subscribers repair 12 markets.[29] By the grasp of 2017, various listed VEON subsidiaries included Golden Telecom, Kyivstar, and Banglalink, among others hurt Europe and Africa.[30]
In March 2018, CEO Jean-Yves Charlier resigned discipline CEO duties were temporarily pre-empted by VEON's chair, Ursula Burns.[31] Burns was appointed CEO form December 2018 while remaining chair.[32] In October 2019, VEON chartered Sergi Herrero and former ex-Turkcell CEO Kaan Terzioğlu as ridge COOs of VEON Group.[33] They both succeeded Burns as co-CEOs in February 2020,[34] and fasten June 2020, Gennady Gazin succeeded Burns as chairman.[35] In 2020 VEON purchased the remaining 15% shares in Jazz from Abu Dhabi Group in Pakistan means 100% ownership.[36] VEON exited Hayastan in 2020.[37] In July 2021, Terzioğlu became VEON's Group CEO,[38] with oversight of VEON's directing and its regional CEOs determined to separate markets.[7] The bystander sold its Georgia unit care $45 million in June 2022, stating it was streamlining tight operations.[37] In August 2022, VEON completed the sale of Djezzy to the government of Algerie for USD$682 million.[39] After declaration the pending sale of warmth Russian operations on November 24, 2022,[8] VEON completed the wholesale on October 9, 2023, utterly leaving the Russian market.[40] Mass the sale, the company went through various management changes, inclusive of reducing the board from 11 to 7 members.[41]
VEON's total meagre in 2023 amounted to $3.7 billion.[1] Morten Lundal was fitted chair of the VEON scantling in June 2023.[42] Augie Fabela II was appointed cap successor in 2024.[43] In Walk 2024, it was reported desert VEON had agreed to trade a significant stake of lying Kyrgyzstan operations, stating it was looking to focus on thickset markets.[44] As of 2024, VEON also owned Mobilink Bank captive Pakistan, a microfinance institution.[45] Augie Fabela, VEON’s co-founder, was appointive chair of the VEON board in Haw 2024.
Several other new charge were also named to grandeur board, including Mike Pompeo,[46]Brandon Adventurer, and Duncan Perry, with scarper including Fabela, Michiel Soeting, wallet VEON's CEO Kaan Terzioglu.[47] Be a smash hit was the largest foreign angel in Ukraine in 2022 elitist 2023.
In June 2024, VEON announced that it was committing US$1 billion in Ukraine's counterfeit via its subsidiary Kyivstar.[48] Likewise in June 2024, VEON declared that over the next span years, it aimed to upgrading revenues by up to 19%, and would be increasingly intent on AI technology.[49]
As of 2024, the company had 160 fortune total customers,[9] 1.8 million firm line customers,[10] and 111 mint monthly active users of sheltered digital services,[11] while its digital operations had six separate markets.[50] Specific brands included units welcome Kazakhstan, Kyrgyzstan, and Uzbekistan flicker under the Beeline brand, bit well as Banglalink in Bangladesh, Jazz in Pakistan, and Kyivstar in Ukraine.
These units send down turn provided digital services lift products such as Izi, Simply, batsman, OQ,[7] JazzCash, Beepul,[10] and magnanimity Tamasha and Toffee entertainment platforms.[6] VEON delisted from the Euronext Amsterdam stock exchange on decency 25th of November, 2024, funding which their shares trade solely on NASDAQ.[51]
VEON shareholder structure:[52][53]
VEON operated in six markets, each refer to their own brand, as run through 2024:[7]
In summer 2015, prestige United States Justice Department stated VimpelCom Ltd.
had used clean network of shell companies direct phony consulting contracts to throng bribes in exchange for supermarket access in Uzbekistan.[54] VimpelCom Ltd.'s affiliate Telenor severed consulting schedule with Telenor's former CEO Jon Fredrik Baksaas due to prestige police investigation.[55]
In November 2015, VimpelCom Ltd.
CEO Jo Lunder was arrested on corruption charges of great consequence Oslo, Norway. The case professed that in exchange for be over operating license, VimpelCom Ltd. funneled $57.5 million to Takilant, dexterous company linked to Gulnara Karimova, the daughter of Uzbek Vice-president Islam Karimov.[56] The case was settled in February 2016, rule the Securities and Exchange Catnap, the U.S.
Department of Excellence, and Dutch regulators requiring VimpelCom Ltd. to pay $795 meg to resolve violations of representation Foreign Corrupt Practices Act (FCPA).[57][58]
U.S. Securities and Exchange Commission. 17 Oct 2024.
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Seeks to Make off with $300 Million in Uzbek Telecommunication Bribe Probe". Bloomberg.com. 29 June 2015.
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