Veon
VEON is a Nasdaq-listed digital operator headquartered in Dubai that provides mobile connectivity and digital services, including fintech, in five markets across Asia and Eastern Europe.
Industry: Telecommunications and digital services | Location: Dubai, United Arab Emirates | Founded: 1992
About Veon
VEON is a digital operator that provides mobile connectivity and digital services in Pakistan, Ukraine, Bangladesh, Kazakhstan and Uzbekistan. Its website says it has about 150 million connectivity customers and 205 million active three-month digital customers across markets with 528 million people, and about 17,000 employees. Its digital portfolio spans fintech, education, healthcare and entertainment. Its shares trade on Nasdaq under the ticker VEON.
Wikipedia states that the company was founded in 1992 as Vimpelcom and renamed in 2017. Augie K. Fabela II is listed as founder and chairman of the board, and Kaan Terzioglu, who joined VEON in 2019 and previously ran Turkcell, is group chief executive. VEON says it has no single controlling shareholder and a board with a majority of independent directors. Its website places its headquarters in Dubai.
VEON owned the Algerian operator Djezzy until 2022. Algérie Eco reported that the Algerian state's National Investment Fund bought VEON's remaining 45.57 percent stake on 1 July 2022 for 102 billion dinars.
In recent weeks VEON announced several deals. On 15 September 2026 VEON and Beeline Kazakhstan signed a payments cooperation memorandum with the National Bank of Kazakhstan. On 25 September it announced that Bangladesh Bank had approved a digital bank licence for a joint venture with Square Group. On 7 October it signed a ten-year agreement with Amdocs to run and modernise its core technology operations. On 19 October it agreed to buy Rubicon Wireless, the Uzbek operator trading as Perfectum, for about USD 207 million including roughly USD 93 million of assumed debt, with completion expected by the end of October.
For the second quarter of 2026, reported on 31 July 2026, VEON posted revenue of USD 1,271 million, up 17.0 percent, EBITDA of USD 552 million and profit of USD 140 million, with digital revenue of USD 342 million. It raised its 2026 revenue growth outlook to 15 to 18 percent. On 23 September 2026 it announced a buyback of 3.9 percent of its shares, worth about USD 200 million.
Leadership
- Augie K. Fabela II, Chairman of the Board and Founder
- Kaan Terzioğlu, Group Chief Executive Officer
- Burak Ozer, Chief Financial Officer
- Ahmet Kayhan, Chief Payments & Digital Assets Officer