Veon, the Dutch holding company that owns Kyivstar, has sold its Russian assets. This is stated on its website.
VimpelCom (Beeline brand), one of Russia’s Big Three mobile operators, has been taken over by its management, headed by CEO Alexander Torbakhov. The agreement does not provide for a buyback option, Veon said.
The holding continues to operate in six countries: Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan. Veon CEO Kaan Terzioğlu said that the completion of the withdrawal from Russia significantly strengthens the holding’s position to implement its strategic priorities.
Veon is 47.9% owned by LetterOne Holdings, which was founded by Alfa Group shareholders, including Mikhail Fridman. On October 6, the SBU announced the seizure of all corporate rights of Friedman and his business partners in Ukraine, including Kyivstar.
Kyivstar replied that this did not affect its work. Friedman, according to the company, was removed from any management or business processes at LetterOne and Veon in February 2022.
