VEON Ltd. (VEON) to Sell Russian Operations
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VEON enters into agreement to sell its Russian operations
November 24, 2022 7:44 AM ESTAmsterdam, Netherlands, 24 November 2022 13:25 VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today announces that following a competitive process, it has entered into an agreement to sell VEONs Russian operations to certain senior members of the management team of PJSC VimpelCom (VimpelCom), led by its current CEO Aleksander Torbakhov.
The management buy-out of VimpelCom implies an expected enterprise value of approximately RUB 370 billion, representing an expected enterprise value / 2022E EBITDA multiple of 3.2x. On a standalone basis, for the... More
