VEON to increase investment to rebuild Ukraine's digital infrastructure to $1 billion (updated)

VEON

10/06/2024 10:51

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       June 10 (Reuters) - VEON  VON.AS , the owner of
Ukraine's largest mobile network Kyivstar, said on Monday it
would increase its financial commitment to rebuild Ukraine's
digital infrastructure to $1 billion.
    The global digital operator plans the investment over a five
year period from 2023 to 2027, channelled through VEON's
wholly-owned subsidiary Kyivstar, marking an increase from its
previous $600 million investment commitment.
    "The commitment will fund investments into network and
digital services, including potential acquisitions or the
development of new assets, social contributions and
partnerships," VEON said in a statement.
     In December 2023, Kyivstar was targeted by what appeared to
be the largest cyber attack since Russia's invasion of Ukraine
in February 2022. Last month the company said it lost 3% of
annual growth caused by the cyber attack.
    

 (Reporting by Nathan Vifflin; Editing by Louise Heavens and
Emelia Sithole-Matarise)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))