VEON Ltd. Holding has completed the sale of its 50.1% indirect stake in Sky Mobile LLC, operating under the Beeline brand in Kyrgyzstan, to the state-owned Eldik Bank. This is stated in the VEON message.
The deal was conducted through Menacrest AG, the parent company of Sky Mobile. After Veon announced its intention to sell its stake in CG Cell Technologies in March 2024, the Cabinet of Ministers of Kyrgyzstan exercised the priority right to purchase shares and instructed Eldik Bank to acquire 100% of Sky Mobile.
This transaction is in line with VEON's previously announced strategy to simplify the group's structure and optimize its portfolio. It is completed after obtaining all necessary regulatory approvals.
Veon is a holding company that controls telecommunications assets in Eurasian countries. Veon was founded in Moscow in 1992 under the VimpelCom brand as one of the first Russian mobile operators. It is headquartered in Amsterdam, the Netherlands, with branches in six countries, including Pakistan, Ukraine, and Bangladesh.
JSC "Eldik Bank" is the state bank of the Kyrgyz Republic. It was founded on July 22, 1996, and rebranded in 2024 (the former name was RSK Bank OJSC).
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