VEON Ltd. (NASDAQ: VEON) shares slipped Monday, on word the company has today sent a senior delegation to Ukraine consisting of members of the VEON Board and Management. The delegation will visit Kyiv and Lviv, meeting with Kyivstar employees, Kyivstar’s community support projects, government officials and representatives of diplomatic missions.
“Kyivstar’s 4000 heroes have done a tremendous job over the past 20 months keeping Ukraine connected andsupporting the resilience of the country even as the war raged on. Having pledged USD 600 million to the recovery and reconstruction of Ukraine, it is our privilege to plan our future investments, which is one of the main goals of our visit. While in Kyiv, we will also address some recent concerns and demonstrate once again that VEON is not a liability but an asset for the country. We are here to stay and are committed to Ukraine. We would like our business to be understood and reflected as what it really is: an exemplary international investment success story in Ukraine.” said Kaan Terzioglu, VEON Group CEO.
The delegation’s visit follows VEON’s announcement on October 9 that it has closed the sale of its Russia operations and completed its exit from Russia – one of the most significant corporate exits given VEON’s public listing and the relative size of the asset. VEON had committed USD 600 million to Ukraine’s recovery and reconstruction over the next years during the “Ukraine Recovery Conference” in London in June.
VEON shares lost 35 cents, or 2.1%,to $16.50.
