VEON plans further towers sales in 2022/23

8 Dec 2021

Fresh from selling its Russian mobile tower portfolio, multinational telecoms group VEON told investors yesterday that it plans to sell off towers in three more countries in the next two years. VEON’s Pakistan (Jazz) division expects to complete the sale of its portfolio of tower assets by the end of 2022, while its Ukraine (Kyivstar) subsidiary plans to do the same during 2023. The group’s Bangladesh (Banglalink) unit is expected to sell its tower assets ‘during 2022/2023’.

In its investor presentation, VEON also announced new medium-term financial ambitions including 10%-14% CAGR local currency revenue growth over three years (FY22-FY24) and a three percentage point EBITDA margin expansion over the same period, supported by its group-wide cost efficiency programme that is anticipated to bring annual run rate savings of USD250 million by the end of 2024.

Bangladesh, Pakistan, Ukraine, Banglalink, Jazz, Kyivstar, VEON