Kyivstar’s owner moves its headquarters out of Europe: the reason
14 October 2024 16:24
Veon Ltd, the telecommunications holding company that owns Ukraine’s largest mobile operator Kyivstar, has decided to move its headquarters from Amsterdam to Dubai. This was announced by the company, "Komersant Ukrainian" reports.
“The board of directors has approved a plan to move the VEON Group headquarters from Amsterdam to Dubai, United Arab Emirates, where VEON’s expanding operations centre will be located from early 2022,” the statement said.
The company explained this decision by the desire to be closer to its key markets.
“Our decision to relocate Veon’s headquarters to Dubai reflects a strategic realignment of our focus to be closer to our key markets,” said Kaan Terzioglu, CEO of Veon Group.
With the relocation of its headquarters to the Dubai International Financial Centre (DIFC), the Group will become the largest Nasdaq-listed company headquartered in Dubai, which is also home to Nasdaq Dubai.
“This move gives us the opportunity to benefit from the tremendous opportunities Dubai offers, including its proximity to our operations, access to world-class talent and improved visibility to a broader Gulf investor base,” added VEON Group CEO.
What you need to know about Veon
Veon was founded in Moscow in 1992 as Vimpelcom (formerly Beeline), one of the first mobile operators in the country.
In addition to Ukraine, Veon operates in Pakistan, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan.
In 2023, the company left Russia.
25% of Veon is owned by Letterone Holdings of Mikhail Fridman and Petr Aven.
