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VEON announces sale of Georgian operations

9 Jun 2022

VEON has announced that it has completed an agreement for the sale of its Georgian mobile unit, operating under the brand name Beeline, to its former local partner. The Amsterdam-headquartered international telecoms company said the transaction, which is valued at USD45 million, is in line with its long-held ambition to simplify the group’s structure. ‘After a period of ongoing negotiations, we have successfully concluded an agreement for the sale of our operating subsidiary in Georgia to our former local partner,’ commented VEON CEO Kaan Terzioglu, adding: ‘This transaction is another step towards streamlining our group operations. Beeline Georgia is a leader in terms of 4G penetration and digital services, thanks to its successful execution of VEON’s digital operator strategy. Company management and the new Georgian shareholder are committed to continue developing the success of the company and to support the digital transformation of the country.’

Georgia, VEON, VEON Georgia (Beeline)

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