VEON to increase investment to rebuild Ukraine's digital infrastructure to $1 billion
Adds quote and background in paragraphs 3-4
June 10 (Reuters) -VEON VON.AS, the owner of Ukraine's largest mobile network Kyivstar, said on Monday it would increase its financial commitment to rebuild Ukraine's digital infrastructure to $1 billion.
The global digital operator plans the investment over a five year period from 2023 to 2027, channelled through VEON's wholly-owned subsidiary Kyivstar, marking an increase from its previous $600 million investment commitment.
"The commitment will fund investments into network and digital services, including potential acquisitions or the development of new assets, social contributions and partnerships," VEON said in a statement.
In December 2023, Kyivstar was targeted by what appeared to be the largest cyber attack since Russia's invasion of Ukraine in February 2022. Last month the company said it lost 3% of annual growth caused by the cyber attack.
Reporting by Nathan Vifflin; Editing by Louise Heavens and Emelia Sithole-Matarise
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
