Mergers & Acquisitions ·
VEON agrees to acquire 33.75% stake in Jungo TV for $5M cash and ~$42.3M in Kyivstar shares
VEONVEON Ltd.
VEON Ltd. announced an agreement to acquire a 33.75% equity stake with control rights in JungoTV Holdco, Inc., the parent company of U.S.-based media firm Jungo TV. The transaction values the consideration at approximately $42.3 million based on 2.35 million existing Kyivstar Group Ltd. shares priced at $18.00 each, plus $5 million in cash payable upon signing. This strategic investment combines Jungo TV’s content portfolio and international distribution with VEON’s digital platforms to accelerate growth in entertainment and women's sports programming across emerging markets. The deal is subject to customary closing conditions, including regulatory approvals, and is expected to close in 2027. VEON operates as a global digital operator providing connectivity and digital services.