VEON Closes The Sale Of Its Russia Operations, Completes Its Exit From Russia
Portfolio Pulse from Benzinga Newsdesk
VEON Ltd. has completed its exit from Russia with the closing of the sale of its Russian operations to a group of senior members of the PJSC VimpelCom management team. The transaction does not provide for any buy-back arrangements and signifies a complete exit from the Russian market for VEON. The company now focuses on six emerging markets - Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan.
October 09, 2023 | 1:20 pm
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VEON Ltd. has exited the Russian market, selling its operations to the PJSC VimpelCom management team. The company will now focus on six emerging markets.
VEON's exit from Russia could be seen as a strategic move to focus on emerging markets that may offer higher growth potential. However, the impact on the stock price is uncertain as it depends on how well the company can leverage these new markets and the potential risks involved.
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