VEON .(US:VEON) Globenewswire·2025-10-21 08:30Core Insights - VEON Ltd. has agreed to acquire 100% of OLX Kazakhstan for a total consideration of USD 75 million, enhancing its digital services portfolio in Kazakhstan [1][4]. Company Overview - Beeline Kazakhstan, a subsidiary of VEON, serves 11 million customers with mobile connectivity and 2 million with fixed internet services, and has been executing a digital operator strategy since 2018 [5]. - OLX Kazakhstan is a leading online classifieds platform in Kazakhstan, with approximately 10 million monthly active users and 3.6 million listings as of June 30, 2025, reaching over 52% of the country's active internet users [2]. Strategic Implications - The acquisition is expected to create synergies by integrating OLX KZ into Beeline Kazakhstan's digital services ecosystem, allowing for a more comprehensive set of offerings to customers [3]. - The CEO of OLX Group expressed confidence that Beeline Kazakhstan will drive the next phase of growth for OLX KZ, aligning with OLX Group's strategy to focus on core categories and key markets [4]. Market Position - OLX KZ is recognized as a trusted marketplace in Kazakhstan, serving millions daily, which positions Beeline Kazakhstan to enhance its market leadership through this acquisition [4]. - VEON operates across five countries, providing connectivity and digital services to nearly 160 million customers, indicating a strong regional presence and potential for growth through strategic acquisitions [6].