Recent Updates — VEON
VEON Ltd. confirmed the cancellation of approximately 1.5% of its total issued shares, specifically 26,951,230 common shares equivalent to 1,078,049 ADSs. This action advances the company's ongoing share buyback program announced on September 23, 2026, which aims to repurchase and cancel a total of 3.9% of VEON’s outstanding shares. The cancellation is part of the firm's strategy to return capital to shareholders while managing its balance sheet. VEON operates as a global digital operator providing connectivity and digital services across five countries.
VEON Ltd. has agreed to acquire 100% of Rubicon Wireless, the operator behind the Perfectum brand in Uzbekistan, for total consideration of approximately USD 207 million, inclusive of assumed debt of roughly USD 93 million. The transaction is funded from VEON's existing cash resources and follows receipt of relevant regulatory approvals, with completion expected by the end of October 2026. The acquisition adds 115 MHz of spectrum across the 850 MHz and 3,800 MHz bands to Beeline Uzbekistan, increasing its spectrum holdings by approximately 50% and supporting future 5G and fixed wireless access expansion. VEON Ltd. is a global digital operator providing connectivity and digital services across five countries.
VEON Ltd. announced a new share buyback program on September 23, 2026, targeting the repurchase of 3.9% of outstanding shares (72.5 million shares or equivalent ADSs) for approximately USD 200 million. This initiative upgrades the previous minimum annual target and is funded by trailing-twelve-month Equity Free Cash Flow. The program includes open market repurchases and proportionate direct purchases from major shareholder LetterOne, with all acquired shares to be cancelled. Since August 2024, VEON has repurchased a total of USD 227.6 million worth of shares. VEON is a global digital operator providing connectivity and digital services across five countries.
VEON Ltd. reported second-quarter 2026 results with total revenue increasing 17.0% year-over-year to USD 1,271 million and EBITDA rising 6.2% to USD 552 million. Digital revenue surged 53.6% to USD 342 million, accounting for 26.9% of total sales. Diluted earnings per ADS fell 79.6% to USD 1.69 due to the non-recurrence of a USD 489 million gain on a Pakistan tower sale in the prior year and a USD 21.2 million fair value loss on KGL warrants. The company raised its full-year revenue growth outlook to 15–18% and EBITDA growth to 9–12%. VEON also completed a USD 1.4 billion bond offering, refinancing nearly all debt due in 2027 and extending average maturity to over four years. Additionally, the company repurchased USD 82.5 million of securities under its current program and announced an intention to cancel a minimum of USD 100 million annually. VEON operates as a telecommunications and digital services provider across emerging markets.
VEON Ltd. announced the final results of a tender offer. VEON Ltd. is a digital telecommunications company operating in emerging markets.