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VEON - VEON News Story

$1.51 -0.0  -0.7%

Last Trade - 19/01/22

Sector
Telecoms
Size
Mid Cap
Market Cap £1.97bn
Enterprise Value £8.81bn
Revenue £5.68bn
Position in Universe 1960th / 7398

BRIEF-Veon Concludes Russia Tower Transaction

Wed 1st December, 2021 3:53pm
Dec 1 (Reuters) - VEON Ltd  VON.AS :
    * VEON CONCLUDES RUSSIA TOWER TRANSACTION
    * REGULATORY APPROVALS HAVE BEEN OBTAINED BY THE PARTIES AND
THIS
TRANSACTION HAS NOW SUCCESSFULLY COMPLETED
    * TRANSACTION INVOLVES THE SALE OF 100% OF NATIONAL TOWER
COMPANY
(“NTC”), A SUBSIDIARY OF VEON, WHICH OPERATES A PORTFOLIO OF
APPROXIMATELY 15,400 MOBILE NETWORK TOWERS IN RUSSIA
    * THE CONCLUSION OF THIS TRANSACTION PAVES THE WAY FOR THE
ESTABLISHMENT OF A LONG-TERM PARTNERSHIP PURSUANT TO A MASTER
TOWER AGREEMENT THAT HAS BEEN ENTERED INTO BETWEEN PJSC
VIMPELCOM AND SERVICE-TELECOM
    * J.P. MORGAN AND ALLEN & OVERY ACTED AS FINANCIAL AND LEGAL
ADVISORS, RESPECTIVELY, TO A WHOLLY OWNED SUBSIDIARY OF VEON
    * THE PROCEEDS FROM THIS TRANSACTION WILL BE USED TO REDUCE
GROUP
EXTERNAL DEBT
    * ASPRING CAPITAL AND FRESHFIELDS BRUCKHAUS DERINGER ACTED
AS
FINANCIAL AND LEGAL ADVISORS TO SERVICE-TELECOM, RESPECTIVELY
    * ASSET SOLD TO SERVICE-TELECOM

Source text for Eikon:  ID:nIFXByQ6na 
Further company coverage:  VON.AS 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))
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