Veon Ltd. (NASDAQ:VEON) shares remained relatively flat on Friday following the announcement of a new collaboration with Airspan Networks Holdings LLC.
The partnership, outlined in a Memorandum of Understanding, aims to strengthen Ukraine’s communications infrastructure through innovative network solutions.
Veon and Airspan will explore technical and commercial synergies to develop resilient networks tailored to Ukraine's needs.
The collaboration will focus on Open RAN and Air-to-Land solutions, which are designed to enhance network resilience, particularly in extreme conditions. Both companies will also work together to identify business opportunities in public and private sectors.
Veon, together with its subsidiary Kyivstar, has committed to investing $1 billion from 2023 to 2027 to rebuild Ukraine's digital infrastructure.
This initiative includes upgrading and expanding mobile networks with advanced technologies like Open RAN and satellite connectivity.
“We look forward to working with Airspan to explore opportunities as a part of our commitment to the country’s resilience and rebuilding,” said Veon CEO Kaan Terzioglu.
According to Benzinga Pro, Veon stock has gained over 97% in the past year.
Earlier this month, the company reported fourth-quarter 2024 sales growth of 4.7% year-over-year to $998 million. Direct digital revenues rose 42.4%, driven by strong growth in Pakistan and Ukraine.
For 2025, Veon expects underlying local currency revenue YoY growth of 12%–14%, EBITDA growth of 13%–15%, and Capex intensity of 17%–19%.
Price Action: Veon shares are trading higher by 0.90% to $45.44 at last check Friday.
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