VEON sells stake in Beeline Kyrgyzstan – Kommersant
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Telecommunications holding VEON announced the sale of its stake in Beeline Kyrgyzstan to the Nepalese group CG Cell Technologies DAC, it follows from messages on the company website. The deal must be approved by local regulators; the timing of its closure and the amount have not been announced.
The deal is part of VEON’s strategy to simplify the group’s structure and shift its focus to larger markets, the statement said. In October 2023 VEON came out from Russian business and sold 100% of VimpelCom PJSC to the company’s top management. The transaction did not include any repurchase agreements.
In March 2022, VimpelCom transferred business in Kyrgyzstan to VEON. Then the telecommunications holding received 50.1% of the shares of Kyrgyzstan Holding AG for $12.1 million. In December 2022, VimpelCom sold its business in Kazakhstan, transferring 75% of the shares of VIP Kazakhstan Holding AG to VEON holding in exchange for a fee of 54 billion rubles.
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