- Converged connectivity and online services provider VEON Ltd (NASDAQ:VEON) conducted a competitive sales process concerning its Russian operations.
- VEON’s management weighed options to ensure an optimal outcome for all relevant stakeholders, including VEON, its Russian operations, its shareholders, its creditors, its customers, and employees working both in and outside Russia.
- VEON reported second-quarter FY22 revenue growth of 5.6% year-on-year to $2.01 billion.
- Total service revenue grew 7.1% Y/Y to $1.89 billion.
- Mobile data revenue rose 11.6% Y/Y.
- The 4G subscribers increased 19.2% Y/Y to 101.9 million.
- Price Action: VEON shares traded higher by 11.10% at $0.39 on the last check Wednesday.
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