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DUBAI/KYIV - VEON Ltd. (NASDAQ:VEON), a global provider of digital connectivity and services with a market capitalization of $3.19 billion, has announced a partnership with Airspan Networks Holdings LLC, a U.S. firm specializing in Open RAN technology, to enhance Ukraine’s telecommunications infrastructure. The Memorandum of Understanding signed today outlines plans to develop and test advanced network solutions aimed at improving communication resilience in extreme conditions. According to InvestingPro analysis, VEON appears undervalued with strong growth potential, supported by its impressive 96% return over the past year.
The collaboration is part of VEON’s broader commitment to invest USD 1 billion into rebuilding Ukraine’s digital framework between 2023 and 2027. This investment by VEON and its subsidiary Kyivstar will focus on upgrading mobile networks and integrating cutting-edge technologies such as Open RAN, direct-to-cell satellite connectivity, and air-to-land solutions. The company’s financial strength is evident in its robust gross profit margin of 87.6% and annual revenue of $3.96 billion. InvestingPro subscribers can access 8 additional key insights about VEON’s financial health, which has received a "GREAT" overall score.
VEON Group CEO Kaan Terzioglu expressed enthusiasm for the joint venture, emphasizing the importance of reliable connectivity for Ukraine’s ongoing resilience and reconstruction efforts. Airspan Networks, recognized for constructing some of the world’s largest Open RAN networks, brings valuable experience to the table. CEO Glenn Laxdal highlighted the company’s readiness to collaborate with VEON and Kyivstar in deploying technologies that maintain connections in challenging environments.
Airspan’s track record includes building the first nationwide 4/5G ORAN network in Japan and the largest geographical Open RAN Network in the U.S. The partnership with VEON is expected to leverage this expertise to support Ukraine’s communication needs.
VEON, serving nearly 160 million customers across six countries, is focused on leveraging technology to empower individuals and foster economic growth. Airspan Networks offers wireless solutions that are widely utilized for various applications, from macro Open RUs to air-to-ground communications.
The press release includes forward-looking statements regarding VEON’s commercial and investment plans, which are subject to risks and uncertainties. There is no guarantee that the initiatives will be successful, but the companies have expressed a clear intention to explore and implement innovative network solutions in Ukraine. For comprehensive analysis of VEON’s investment potential, including detailed financial metrics and expert insights, investors can access the full InvestingPro Research Report, part of the platform’s coverage of over 1,400 US equities. This news is based on a press release statement from VEON Ltd.
In other recent news, VEON Ltd reported a strong financial performance for the fourth quarter of 2024, with total revenue reaching $4 billion, marking an 8.3% increase compared to the previous year. The company’s digital revenue saw a significant rise, contributing $460 million, a 63% increase year-over-year. VEON also announced a second phase of a $35 million share buyback program, following the successful completion of the first phase. The company relocated its headquarters to Dubai after exiting the Russian market, which is part of its strategic initiatives to streamline operations. VEON’s net debt to EBITDA ratio improved to 1.3x, reflecting a stronger financial position. Looking ahead, VEON has set a revenue growth guidance of 12-14% in local currency for 2025, with EBITDA expected to grow by 13-15%. The company plans to list its Kyivstar unit on NASDAQ, signaling continued expansion in digital services and market presence. Additionally, VEON’s acquisition of Ukraine’s leading ride-hailing business, UCLONE, valued at $160 million, highlights its strategic focus on enhancing its digital ecosystem.
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