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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 Sells Russian Tower Assets For Around $970 Mln

Mon 6th September, 2021 6:12am
Sept 6 (Reuters) - VEON LTD  VON.AS :
    * VEON ANNOUNCES THE SALE OF ITS RUSSIAN TOWER ASSETS FOR
USD 970
MILLION
    * TRANSACTION REFLECTS A TOTAL ENTERPRISE VALUE OF
RUB70.65BN
(APPROXIMATELY USD970 MILLION) AND AN EV/EBITDA MULTIPLE OF
11.7X 2021E
    * TRANSACTION INVOLVES 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
    * UNDER TERMS OF DEAL, PJSC VIMPELCOM AND SERVICE-TELECOM
HAVE
ENTERED INTO A LONG-TERM MASTER AGREEMENT REGARDING PROVISION OF
TOWER INFRASTRUCTURE SERVICES FOR AN INITIAL PERIOD OF 8 YEARS,
AND MULTIPLE EXTENSIONS OF 8 YEARS AT DISCRETION OF PJSC
VIMPELCOM
    * BOTH PARTIES WILL ADDITIONALLY ENTER INTO A NEW
BUILD-TO-SUIT
PROGRAM COMPRISING OF UP TO 5,000 SITES BY 2029
    * TRANSACTION IS SUBJECT TO CUSTOMARY REGULATORY APPROVALS
AND
CLOSING IS EXPECTED TO TAKE PLACE IN Q4 OF 2021

Source text for Eikon:  ID:nNDL33YBYx 
Further company coverage:  VON.AS 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 587 696 600;))
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