An Amsterdam-based %Telecommunication company is turning heads Wednesday morning after it was announced that the company is exploring a competitive sale of its Russian-based operations. This announcement is somewhat twofold in that it 1) creates a positive image for the company by leaving the country during a time of controversial war and 2) creates an opportunity for the company to profit in a major way.
This announcement caused shares of %VEONLtd () to get bid up during premarket action. Shares are currently bid at $0.4105/share (+17.29% implied open for sellers) at the time of writing.
VEON Ltd is a global provider of connectivity and internet services. The company provides more than 210 million customers with voice, fixed broadband, data and digital services. Currently, the company offers services to customers in 10 countries: Russia, Pakistan, Algeria, Uzbekistan, Ukraine, Bangladesh, Kazakhstan, Kyrgyzstan, Armenia and Georgia. The reportable segments currently consist of the following six segments: Russia; Pakistan; Bangladesh; Ukraine; Uzbekistan; and HQ. The company provides services under the Beeline, Kyivstar, banglalink, Jazz and Djezzy brands. The maximum revenue derives from Russia.