Kyivstar Provides Update On Cyber-Attack Recovery; Reports Partial Restoration Of Connectivity On Its Fixed Network; Technical Teams Are Working On Restoring All Services, With Intention Of And The Best Effort Towards Achieving Recovery Starting Dec 13
Portfolio Pulse from Benzinga Newsdesk
Kyivstar, a subsidiary of VEON Ltd., experienced a significant cyber-attack on December 12, 2023, disrupting communication services. Technical teams have partially restored fixed-line services and aim to begin full recovery from December 13. VEON supports Kyivstar's efforts and is working with Ukrainian authorities. The financial impact is currently unquantifiable and depends on the duration of service disruption. VEON will keep stakeholders informed on the progress.
December 12, 2023 | 7:59 pm
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NEGATIVE IMPACT
VEON Ltd. is dealing with the aftermath of a cyber-attack on its Ukrainian subsidiary Kyivstar. Services are partially restored with full recovery efforts underway. The financial impact is uncertain and will depend on the recovery timeline.
The cyber-attack on Kyivstar is likely to have a negative short-term impact on VEON's stock price due to the uncertainty of the financial impact and potential costs associated with the recovery and security enhancements. The news directly involves VEON and its subsidiary, making it highly relevant. The importance is high as the attack affects operations and customer trust, but not at the maximum level since the full extent and long-term consequences are not yet clear. The confidence level is not at the maximum due to the lack of specific financial impact data and the ongoing nature of the recovery.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100