Amsterdam and Kyiv, 18 January 2024 – VEON Ltd. (NASDAQ:VEON, Euronext Amsterdam: VEON)), a global digital operator that provides converged connectivity and online services ("the Company"), announces its preliminary assessment of the financial impact of the cybersecurity incident that affected the network and services of its Ukrainian subsidiary Kyivstar in December 2023.
The incident, which was caused by a widespread external cyberattack, resulted in a temporary disruption of Kyivstar's network and services, interrupting the provision of voice and data connectivity on mobile and fixed networks, international roaming, and SMS services, amongst others, for Kyivstar customers in Ukraine and abroad. Working relentlessly, and in collaboration with the Ukrainian law enforcement agencies, the Security Service of Ukraine and government agencies, Kyivstar restored services in multiple stages starting with voice and data connectivity. After stabilizing the network, Kyivstar immediately launched offers to thank its customers for their loyalty, including one month of free services on certain types of contracts.
VEON and Kyivstar also engaged in a financial impact assessment, the preliminary results of which have become available.
Largely because of the limited period during which the critical services were down, VEON expects no material financial impact ...