Telenor offloads last Veon chunk – Mobile World Live

Telenor offloads last Veon chunk

22 NOV 2019

Telenor Group sold its last stake in multinational operator Veon for $362 million, after a prolonged contest about the future ownership of the company, reported Reuters.

The transaction compiled of Telenor’s remaining 157 million shares in Veon and “is in line with the previously communicated strategy and concludes the final sell-down in Veon”, the company said, adding its counterpart for the sale was US-based investment banking company Citi.

Telenor first announced plans to offload its stake in Veon (formerly VimpelCom) in 2015, as it couldn’t get hold of a majority to fully control the operator.

In July the group hailed its results for Q2 2019 as validation for a strategy commenced in 2017 to offload non-core assets.

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Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

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