Financial Performance - VEON reported a revenue growth of 5.9% year-on-year to USD 1,087 million in the second quarter of 2025, with local currency growth at 11.2% YoY, surpassing the average inflation rate of 8.6% in its operating countries [2][9] - Direct digital revenues increased by 56.6% YoY in reported currency and 62.4% YoY in local currency, accounting for 16.5% of total revenues, up from 5.4% a year ago [3][9] - EBITDA reached USD 520 million, reflecting a 13.2% YoY increase in reported currency and a 19.6% increase in local currency terms [3][9] Capital Expenditure and Financial Position - Capital expenditures (Capex) for 2Q25 were USD 231 million, resulting in a capex intensity of 21.3% for the quarter [4] - Total cash and cash equivalents as of June 30, 2025, amounted to USD 1,283 million, with net debt to EBITDA at 1.32x [4][9] Outlook - The company revised its 2025 outlook, expecting local currency revenue growth of 13% to 15% and local currency EBITDA growth of 14% to 16% [5][10] - Capex intensity for 2025 is anticipated to remain within the range of 17% to 19% [5][10] Strategic Initiatives - VEON completed the third phase of its share buyback program, acquiring 722,588 ADSs for a total of USD 35 million, completing a previously announced USD 100 million buyback program [6] - The acquisition of Uklon in April 2025 marks a strategic milestone in expanding VEON's digital services footprint [8]

Core Insights - VEON Ltd. has launched a new office for Beeline Kazakhstan in Almaty, aimed at enhancing collaboration and innovation within its telecom, AI, and digital services teams [1][2][3] Group 1: New Office Launch - The new office is designed to foster cross-functional collaboration among approximately 500 professionals from the VEON ecosystem in Kazakhstan, including Beeline and QazCode [2][4] - The inauguration ceremony was attended by key executives, including VEON Chairman and Founder Augie Fabela and Group CEO Kaan Terzioglu [3] Group 2: Strategic Importance - Kaan Terzioglu emphasized the office's role in transforming innovative capabilities into digital services for millions of customers, showcasing VEON's commitment to Kazakhstan's digital economy [4] - Evgeny Nastradin highlighted the office's potential to strengthen collaboration between telecom, digital, and AI teams, supporting the Digital Kazakhstan strategy [4] Group 3: Company Overview - Beeline Kazakhstan serves 11 million mobile customers and 2 million fixed internet customers, executing a digital operator strategy since 2018 [5] - QazCode, a subsidiary of Beeline Kazakhstan, is one of the largest software development companies in Kazakhstan, focusing on private Large Language Models and IT outsourcing services [6][5] Group 4: VEON Overview - VEON operates across six countries, providing digital services to nearly 160 million customers and driving economic growth through technology [7]

Core Viewpoint - VEON Ltd. will release its financial and operational results for the second quarter and half-year ended June 30, 2025, on August 7, 2025, at 8:00 GST (0:00 EST) [2] Group 1: Earnings Release Details - The earnings update will be followed by a conference call with senior management at 16:00 GST (8:00 EST) on the same day [2] - A registration link for the conference call is provided for participants to access the event [3] Group 2: Q&A Participation - Participants can engage in a Q&A session by selecting the 'Yes' option during registration, allowing them to join the Q&A room [5] - A platform for submitting and upvoting questions will be available starting July 31, 2025, at 8:00 EST, and will remain open until 24 hours before the conference call [8] Group 3: Company Overview - VEON is a digital operator serving nearly 160 million customers across six countries, contributing to over 7% of the world's population [10] - The company focuses on technology-driven services that empower individuals and stimulate economic growth [10]

Core Viewpoint - VEON Ltd. and Cohen Circle Acquisition Corp. I have executed non-redemption agreements totaling approximately USD 52.3 million, securing the minimum cash condition for the proposed business combination with Kyivstar Group, which is expected to be listed on Nasdaq under the ticker symbol "KYIV" [1][2]. Group 1: Business Combination Details - The closing of the business combination is anticipated in the third quarter of 2025, pending shareholder approval and customary closing conditions [2]. - The business combination will mark Kyivstar Group as the first pure-play Ukrainian company to be publicly listed on a U.S. stock exchange [2]. - Cohen Circle's units, Class A ordinary shares, and warrants are listed on Nasdaq under the ticker symbols "CCIRU," "CCIR," and "CCIRW" respectively [2]. Group 2: Kyivstar Group Overview - Kyivstar Group is Ukraine's leading digital operator, serving over 23 million mobile customers and more than 1.1 million home internet fixed line customers as of December 31, 2024 [3]. - The company provides a wide range of services, including 4G, big data, cloud solutions, cybersecurity, and digital TV [3]. - VEON and Kyivstar Group plan to invest USD 1 billion in Ukraine from 2023 to 2027, focusing on infrastructure, technological development, and charitable donations [3]. Group 3: VEON Overview - VEON operates as a digital operator providing converged connectivity and digital services to nearly 160 million customers across six countries [4]. - The company aims to transform lives through technology-driven services that empower individuals and stimulate economic growth [4]. Group 4: Cohen Circle Overview - Cohen Circle Acquisition Corp. I is a special purpose acquisition company formed to effect a merger or similar business combination with technology and/or financial services businesses [5]. - The company’s units, Class A ordinary shares, and warrants are also listed on Nasdaq under the symbols "CCIRU," "CCIR," and "CCIRW" respectively [5].

Core Viewpoint - VEON Ltd. has successfully completed a private placement of USD 200 million in senior unsecured notes due in 2029, indicating strong investor confidence in the company's strategic direction and financial outlook [1][3]. Group 1: Financial Details - The notes are issued by VEON MidCo B.V., priced at par with an annual interest rate of 9.000% [2]. - The expected credit rating from S&P and Fitch for the notes is BB- [2]. - The proceeds from the transaction will be utilized for general corporate purposes and to optimize VEON's capital structure [4]. Group 2: Market Context - This issuance marks a significant milestone in VEON's renewed capital markets strategy, enhancing its access to global capital markets [3]. - VEON operates across six countries, serving nearly 160 million customers, and is focused on technology-driven services that promote economic growth [5].

Core Insights - VEON Ltd. announces that Kyivstar has received regulatory approval for testing Starlink Direct-to-Cell (D2C) services in Ukraine, marking a significant step towards enhancing connectivity in the region [1][4] - Successful integration of Kyivstar's SIM cards with Starlink's satellite network has been confirmed, indicating compatibility and paving the way for the launch of D2C services [2] - The planned launch of D2C services, which will support SMS and over-the-top (OTT) messaging, is set for Q4 2025, aimed at improving connectivity in areas affected by infrastructure damage and during emergencies [3] Company Overview - VEON is a digital operator serving nearly 160 million customers across six countries, focusing on technology-driven services that promote economic growth [5] - Kyivstar, as Ukraine's largest digital operator, serves over 23 million mobile subscribers and has committed to investing USD 1 billion in telecom technologies from 2023 to 2027 [6] - Kyivstar has allocated over UAH 2 billion in the past two years to support wartime challenges, including assistance to the Armed Forces and social projects [6]

Core Points - VEON Ltd. and Kyivstar are collaborating with Ukraine's Ministry of Digital Transformation to develop Ukraine's first national large language model (LLM) trained on Ukrainian-language data, with a commitment to invest USD 1 billion in rebuilding Ukraine's digital infrastructure from 2023 to 2027 [1][5][6] Group 1: Project Overview - The LLM will utilize open-source architectures and be trained exclusively on Ukrainian data sources, capturing various dialects, terminology, history, and cultural context [2] - The project aims to securely store and process sensitive national data within Ukraine, which is essential for sectors like government, defense, healthcare, and financial services [2][3] Group 2: Applications and Benefits - The LLM will serve as a foundation for AI-powered products and services, including legal and regulatory analysis tools, and specialized applications in education, finance, and health [3][4] - The model is expected to provide more accurate and relevant insights for Ukrainian users compared to general-purpose global models [3] Group 3: Strategic Importance - The initiative is seen as a significant step towards building a sovereign and culturally relevant AI ecosystem that supports economic growth and enhances the lives of Ukrainians [5] - The development aligns with VEON's broader strategy to address the AI language gap for underrepresented languages in its markets, as demonstrated by similar initiatives in Kazakhstan and Pakistan [5]

Core Viewpoint - VEON Ltd. has appointed Vitaly Shmakov as the Acting General Counsel, effective July 1, 2025, highlighting the company's commitment to internal talent development and strategic growth initiatives [1][3]. Group 1: Appointment Details - Vitaly Shmakov is currently the Group Director of M&A and Strategic Transactions at VEON and has been with the company since 2016, holding various legal roles [2]. - His previous experience includes being a Senior Associate for M&A and Corporate Law at Ashurst LLP in London, and he holds multiple LL.M degrees and is pursuing an Executive MBA [2]. Group 2: Leadership and Strategy - The appointment of Shmakov is seen as a strategic move to lead the legal team and support VEON's transformative initiatives, including the planned listing of Kyivstar on the Nasdaq Stock Market [3][4]. - Shmakov's nearly 20 years of experience in M&A and corporate law, along with his significant contributions to VEON's development, position him as a strong candidate for this role [4]. Group 3: Company Overview - VEON is a digital operator serving nearly 160 million customers across six countries, representing over 7% of the global population, and is focused on technology-driven services that promote economic growth [5].

Core Viewpoint - VEON Ltd. announces the resignation of Omiyinka Doris as Group General Counsel effective July 1, 2025, while she will continue as a strategic advisor to the Group CEO [1][2]. Group 1: Leadership Transition - Omiyinka Doris has been with VEON for a decade, serving in various roles including Deputy General Counsel and Acting Group General Counsel before becoming the Group General Counsel [2]. - Doris played a crucial role in navigating VEON through significant geopolitical changes and was instrumental in key strategic initiatives such as the exit from Russia and bond restructurings [2][5]. - The leadership transition is seen as a pivotal moment for VEON, with both the Chairman and CEO acknowledging Doris's contributions to the company's transformation and legal framework [5]. Group 2: Achievements and Contributions - Under Doris's leadership, VEON executed numerous strategic initiatives, including consolidating trading on Nasdaq and relocating the headquarters from Amsterdam to Dubai [2]. - Doris was recognized by the Financial Times in 2024 as one of the world's top 15 in-house legal leaders, highlighting her impact in the legal field [4]. - She has transformed the legal and compliance teams at VEON, fostering collaboration and establishing an Ethics and Compliance Centre of Excellence in Dubai [3]. Group 3: Company Overview - VEON is a Nasdaq-listed digital operator serving nearly 160 million customers across six countries, representing over 7% of the global population [6]. - The company focuses on technology-driven services that empower individuals and stimulate economic growth [6].

Core Viewpoint - VEON Ltd. is initiating the third phase of its share buyback program, amounting to up to USD 35 million, following the successful completion of the second phase [1][2][3] Share Buyback Program - The second phase of the buyback program was completed on May 21, 2025, resulting in the repurchase of 1.43 million American Depositary Shares (ADSs) at an average price of USD 45.59 per ADS [2] - The total share buyback program announced on August 1, 2024, is valued at up to USD 100 million [2][3] - The company believes its ADSs are undervalued compared to its operational performance and strategic potential, aiming to optimize shareholder value through this buyback [3] Financial Strategy - VEON is exploring options for raising external financing through a private placement of bonds with a tenor of up to approximately four years, aimed at supporting strategic initiatives and enhancing financial flexibility [4] - Discussions with potential institutional investors are ongoing as part of the company's capital planning efforts [4] Company Overview - VEON operates as a digital operator providing connectivity and digital services to nearly 160 million customers across six countries, representing over 7% of the global population [5]