VEON Ltd. (NASDAQ: VEON) shares eked higher Wednesday, as the global digital operator that provides converged connectivity and online services, and OneWeb, the low Earth orbit (LEO) satellite communications company, announced today at the Mobile World Congress that they are partnering to provide extended mobile internet connectivity and digital services in emerging markets.
VEON Group’s operating companies serve a vast geography that is home to more than 510 million people, including countries that have some of the lowest population densities in the world, uneven population distribution, internal migration patterns, rich economic resources in remote areas and disaster-prone regions. OneWeb partnership will further support VEON Group’s “4G for all” and “humanitarian connectivity” focus, which has seen VEON’s operating companies significantly increase their 4G coverage over the past 2 years, bridge the digital divide for millions of users, respond to disasters and unlock economic growth in their markets.
OneWeb’s LEO network has substantive capabilities to deliver high-speed, low-latency connectivity to governments, businesses and communities. To date, the business has launched 544 satellites into orbit, 80% of its satellite constellation, which will deliver global coverage when completed in 2023.
“OneWeb’s services,” reads this morning’s news release, “work seamlessly with mobile communication infrastructure to enable satellite backhaul to be integrated into mobile networks. OneWeb additionally enables operators to expand 3G, 4G, LTE, and 5G networks into underserved or unconnected communities, particularly those in hard-to-reach places.”
VEON shares gathered a penny, or 2%, to 72 cents.
