VEON - VEON Progresses with Asset-Light Strategy Reaches Agreement to Sell Stake in TNS+ in Kazakhstan | Benzinga
Amsterdam and Astana, 28 May 2024: VEON Ltd. (NASDAQ:VEON, Euronext Amsterdam: VEON)), a global digital operator that provides converged connectivity and online services, announces that it has signed an agreement for the sale of its 49% stake in Kazakh wholesale telecommunications infrastructure services provider TNS Plus LLP (TNS+) to its JV partner, the DAR group of companies.
TNS+ is an international operator providing a wide range of telecommunication services in voice, internet access, data transmission, transparent digital channels, IP VPN, IPLS and long-distance communication services to commercial telecommunications operators, as well as large corporate clients on the enterprise segment.
The total consideration for the sale is USD 137.5 million. The closing of the transaction is subject to customary regulatory approvals in Kazakhstan.
"This agreement marks further progress on the execution of our asset-light strategy. Beeline Kazakhstan is Kazakhstan's digital powerhouse, with products ranging from its financial services application Simply, to its entertainment platform BeeTV, and its innovative second brand Izi. Beeline Kazakhstan's ...