Skip to content

Veon to Sell Russian Unit to Managers in $2.1 Billion Deal

  • Veon will receive 130 billion rubles from VimpelCom’s managers
  • The total sum will be paid primarily by taking on Veon’s debt
Updated on

Veon Ltd. decided to sell its Russian unit to some senior members of its management team in the country as the mobile operator attempts to limit the fallout from the war in Ukraine on its business.  

Veon will receive 130 billion rubles ($2.1 billion) from PJSC VimpelCom’s managers, the company said in a filing on Thursday. The total sum will be paid primarily by taking on Veon’s debt, although no specific amount was disclosed. The deal is expected to be completed by June 2023.