VEON Proposed Class Action Settlement Approved
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 19 2026
0mins
Should l Buy VEON?
Source: Globenewswire
- Settlement Amount Established: VEON Ltd. has proposed a $19.97 million cash settlement to resolve a class action lawsuit for shares purchased between June 30, 2011, and November 3, 2015, which, if approved, will eliminate all related claims, thereby reducing the company's legal risks and restoring investor confidence.
- Court Hearing Scheduled: A hearing is set for May 19, 2026, at 2:00 PM to evaluate the fairness and reasonableness of the proposed settlement, and if approved, it will provide legal clarity for VEON, facilitating its future business development.
- Claim Submission Requirements: Members of the settlement class must submit a claim form by April 28, 2026, to be eligible for settlement payments, emphasizing the importance of timely legal responses to ensure rights are protected.
- Exclusion Rights Explained: Settlement class members can request exclusion by April 28, 2026, and if successful, will not be bound by the settlement agreement, allowing them to participate in any future lawsuits against VEON, highlighting the complexity of legal proceedings and participants' options.
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Analyst Views on VEON
Wall Street analysts forecast VEON stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 53.050
Low
75.00
Averages
87.50
High
100.00
Current: 53.050
Low
75.00
Averages
87.50
High
100.00
About VEON
VEON Ltd is a United Arab Emirates based digital operator which provides connectivity and internet services to corporate and individual customers across multiple markets. The company delivers both mobile and fixed line telecommunications services using traditional and broadband mobile technologies and supports prepaid and contract mobile plans for consumer and enterprise segments. The Company’s mobile offerings include national and international roaming, value added services, wireless broadband, mobile financial services, and digital applications. The Company also provides fixed line services such as voice, data, internet connectivity, data transmission, network access, domestic and international voice termination, and international transit services, alongside the sale of telecom equipment, infrastructure, and accessories. The company operates in Pakistan, Uzbekistan, Kazakhstan, and among others, delivering services under its brands Beeline, Kyivstar, Banglalink, and Jazz.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
VEON Successfully Auctions Mobile Spectrum in Pakistan
- Successful Spectrum Auction: The Pakistani government nearly triples the available spectrum from 274 MHz to 754 MHz in today's auction, with VEON's subsidiary Jazz securing the largest allocation of 190 MHz, significantly enhancing the national digital infrastructure.
- Investment and Innovation Environment: VEON CEO Kaan Terzioglu praised the government's reform-driven expansion of digital infrastructure, stating that the auction will accelerate the development of connectivity, digital services, and AI platforms, further attracting investment.
- Expanding User Base: JazzWorld currently serves over 100 million users, including 74 million mobile connectivity customers, and the additional spectrum will support enhanced network capacity and high-quality mobile broadband expansion, promoting digital inclusion.
- Future Investment Plans: Jazz will begin payments for the spectrum, approximately USD 239.5 million, in Pakistani Rupees starting in 2027, with plans to continue investing in network optimization to support the expansion of digital services nationwide.
See More
Kyivstar Connects 5 Million Users via Starlink Mobile
- User Connection Milestone: At the 2026 Mobile World Congress, Kyivstar announced that 5 million users have connected to its network via Starlink Mobile satellites, a significant achievement that not only enhances its market position in Ukraine but also showcases its leadership in integrating non-terrestrial networks globally.
- Emergency Communication Support: In the past 30 days, Kyivstar transmitted and received 376,000 messages via its satellite network in frontline areas of southeastern and eastern Ukraine, demonstrating Starlink Mobile's critical support for volunteers and humanitarian missions under wartime conditions, thereby reinforcing its communication solutions during crises.
- Technology Application Expansion: Kyivstar is expanding the use of satellite connectivity in various sectors, including agriculture, geodesy, and humanitarian demining, and has validated the operation of 4G POS terminals via satellite in collaboration with Mastercard, showcasing resilience and growth potential in the financial services market even in areas lacking terrestrial network coverage.
- Future Development Plans: Kyivstar plans to launch light data services in 2026 to ensure stable operation of key services, primarily emergency and government services, in scenarios without terrestrial networks, which will provide new assurances for users to continue accessing essential digital services during crises and further enhance the company's competitive edge.
See More
Kyivstar Connects 5 Million Users via Starlink Mobile Satellites
- User Connection Milestone: At MWC 2026, Kyivstar announced that 5 million customers have connected to its network via Starlink Mobile satellites, a significant achievement that not only enhances its market position in Ukraine but also showcases its leadership in integrating non-terrestrial networks globally.
- Emergency Communication Solution: Under wartime conditions, Kyivstar has successfully integrated satellite and terrestrial networks, enabling users to send and receive SMS even during power outages caused by attacks, providing crucial support for emergency responses in Ukraine.
- Commercial Application Expansion: Kyivstar is testing satellite connectivity in sectors such as agriculture, geodesy, and financial services, notably validating the feasibility of financial transactions via satellite in areas without terrestrial coverage in collaboration with Mastercard, significantly enhancing the accessibility and resilience of financial services.
- Future Development Plans: Kyivstar plans to launch light data services in 2026 to ensure stable operation of key services, primarily emergency and government services, in scenarios where terrestrial networks are unavailable, which will provide users with more reliable digital services during crises.
See More
VEON Acquires Controlling Stake in TPL Insurance for $14.6 Million
- Acquisition Agreement: VEON's subsidiary Jazz International has signed a definitive agreement to acquire a controlling stake in publicly listed TPL Insurance for $14.6 million, with the transaction expected to close in mid-2026, marking a strategic expansion into the insurance sector.
- Significant Market Potential: TPL Insurance, a digital-first provider, offers auto, health, fire, and property insurance products, boasting a gross written premium of PKR 5.7 billion as of December 31, 2025, indicating strong competitiveness in the rapidly growing insurance market.
- Robust Customer Base: With over 277,000 policies issued by the end of 2025, TPL Insurance demonstrates effective customer acquisition and policy management capabilities, which will provide VEON with a stable revenue stream.
- Strategic Implications: This acquisition not only strengthens VEON's business presence in Pakistan but also enhances its overall service capabilities through the integration of digital insurance services, expected to drive future business growth and increase market share.
See More
VEON Partners with GSMA Innovation Fund to Accelerate Digital Innovation
- Partnership Agreement: VEON and the GSMA Innovation Fund signed a Memorandum of Understanding at MWC26 in Barcelona, aiming to co-fund digital innovation projects in Pakistan and Bangladesh, which is expected to enhance the local entrepreneurial ecosystem.
- Funding Support Plan: Under the agreement, JazzWorld and Banglalink will co-fund start-ups selected in the GSMA Innovation Fund's 2026 funding rounds, providing both financial and ecosystem support to promote the development of localized digital solutions.
- Social Impact Enhancement: The GSMA Innovation Fund focuses on supporting start-ups that drive positive social, economic, and climate impacts through mobile technology, which is expected to provide greater growth opportunities for entrepreneurs in Pakistan and Bangladesh, thereby driving socio-economic growth.
- User Base Expansion: VEON serves nearly 150 million connectivity users and over 140 million digital users globally, and this partnership will further strengthen its influence in the South Asian market, aiding the proliferation and sustainable development of digital services.
See More
VEON and Rakuten Group Sign Strategic Collaboration MoU
- Strategic Collaboration Framework: VEON and Rakuten Symphony have signed a Memorandum of Understanding to explore strategic collaborations in Uzbekistan's rapidly growing digital economy, focusing on Open RAN development, AI network intelligence, and next-generation digital platforms, which is expected to enhance local digital infrastructure.
- Market Potential: Beeline Uzbekistan serves 7.7 million mobile subscribers and over 9 million monthly active users, and by leveraging Rakuten's cloud-native network expertise, both companies aim to improve the quality and efficiency of digital services, further solidifying Beeline's market leadership in Uzbekistan.
- Technological Innovation: The collaboration will assess opportunities in Open RAN architecture and AI-driven network operations, which are expected to accelerate service delivery and enhance user experiences, thereby positioning Uzbekistan as a digital economy leader in Central Asia.
- Expanded Cooperation Scope: VEON's partnership in Uzbekistan will build on its successful collaborations in Ukraine and Kazakhstan, demonstrating the scalability of its approach to introducing cutting-edge technology partnerships in high-growth emerging markets, further driving regional economic growth.
See More
VEON Successfully Auctions Mobile Spectrum in Pakistan
- Successful Spectrum Auction: The Pakistani government nearly triples the available spectrum from 274 MHz to 754 MHz in today's auction, with VEON's subsidiary Jazz securing the largest allocation of 190 MHz, significantly enhancing the national digital infrastructure.
- Investment and Innovation Environment: VEON CEO Kaan Terzioglu praised the government's reform-driven expansion of digital infrastructure, stating that the auction will accelerate the development of connectivity, digital services, and AI platforms, further attracting investment.
- Expanding User Base: JazzWorld currently serves over 100 million users, including 74 million mobile connectivity customers, and the additional spectrum will support enhanced network capacity and high-quality mobile broadband expansion, promoting digital inclusion.
- Future Investment Plans: Jazz will begin payments for the spectrum, approximately USD 239.5 million, in Pakistani Rupees starting in 2027, with plans to continue investing in network optimization to support the expansion of digital services nationwide.
See More
Kyivstar Connects 5 Million Users via Starlink Mobile
- User Connection Milestone: At the 2026 Mobile World Congress, Kyivstar announced that 5 million users have connected to its network via Starlink Mobile satellites, a significant achievement that not only enhances its market position in Ukraine but also showcases its leadership in integrating non-terrestrial networks globally.
- Emergency Communication Support: In the past 30 days, Kyivstar transmitted and received 376,000 messages via its satellite network in frontline areas of southeastern and eastern Ukraine, demonstrating Starlink Mobile's critical support for volunteers and humanitarian missions under wartime conditions, thereby reinforcing its communication solutions during crises.
- Technology Application Expansion: Kyivstar is expanding the use of satellite connectivity in various sectors, including agriculture, geodesy, and humanitarian demining, and has validated the operation of 4G POS terminals via satellite in collaboration with Mastercard, showcasing resilience and growth potential in the financial services market even in areas lacking terrestrial network coverage.
- Future Development Plans: Kyivstar plans to launch light data services in 2026 to ensure stable operation of key services, primarily emergency and government services, in scenarios without terrestrial networks, which will provide new assurances for users to continue accessing essential digital services during crises and further enhance the company's competitive edge.
See More
Kyivstar Connects 5 Million Users via Starlink Mobile Satellites
- User Connection Milestone: At MWC 2026, Kyivstar announced that 5 million customers have connected to its network via Starlink Mobile satellites, a significant achievement that not only enhances its market position in Ukraine but also showcases its leadership in integrating non-terrestrial networks globally.
- Emergency Communication Solution: Under wartime conditions, Kyivstar has successfully integrated satellite and terrestrial networks, enabling users to send and receive SMS even during power outages caused by attacks, providing crucial support for emergency responses in Ukraine.
- Commercial Application Expansion: Kyivstar is testing satellite connectivity in sectors such as agriculture, geodesy, and financial services, notably validating the feasibility of financial transactions via satellite in areas without terrestrial coverage in collaboration with Mastercard, significantly enhancing the accessibility and resilience of financial services.
- Future Development Plans: Kyivstar plans to launch light data services in 2026 to ensure stable operation of key services, primarily emergency and government services, in scenarios where terrestrial networks are unavailable, which will provide users with more reliable digital services during crises.
See More
VEON Acquires Controlling Stake in TPL Insurance for $14.6 Million
- Acquisition Agreement: VEON's subsidiary Jazz International has signed a definitive agreement to acquire a controlling stake in publicly listed TPL Insurance for $14.6 million, with the transaction expected to close in mid-2026, marking a strategic expansion into the insurance sector.
- Significant Market Potential: TPL Insurance, a digital-first provider, offers auto, health, fire, and property insurance products, boasting a gross written premium of PKR 5.7 billion as of December 31, 2025, indicating strong competitiveness in the rapidly growing insurance market.
- Robust Customer Base: With over 277,000 policies issued by the end of 2025, TPL Insurance demonstrates effective customer acquisition and policy management capabilities, which will provide VEON with a stable revenue stream.
- Strategic Implications: This acquisition not only strengthens VEON's business presence in Pakistan but also enhances its overall service capabilities through the integration of digital insurance services, expected to drive future business growth and increase market share.
See More
VEON Partners with GSMA Innovation Fund to Accelerate Digital Innovation
- Partnership Agreement: VEON and the GSMA Innovation Fund signed a Memorandum of Understanding at MWC26 in Barcelona, aiming to co-fund digital innovation projects in Pakistan and Bangladesh, which is expected to enhance the local entrepreneurial ecosystem.
- Funding Support Plan: Under the agreement, JazzWorld and Banglalink will co-fund start-ups selected in the GSMA Innovation Fund's 2026 funding rounds, providing both financial and ecosystem support to promote the development of localized digital solutions.
- Social Impact Enhancement: The GSMA Innovation Fund focuses on supporting start-ups that drive positive social, economic, and climate impacts through mobile technology, which is expected to provide greater growth opportunities for entrepreneurs in Pakistan and Bangladesh, thereby driving socio-economic growth.
- User Base Expansion: VEON serves nearly 150 million connectivity users and over 140 million digital users globally, and this partnership will further strengthen its influence in the South Asian market, aiding the proliferation and sustainable development of digital services.
See More
VEON and Rakuten Group Sign Strategic Collaboration MoU
- Strategic Collaboration Framework: VEON and Rakuten Symphony have signed a Memorandum of Understanding to explore strategic collaborations in Uzbekistan's rapidly growing digital economy, focusing on Open RAN development, AI network intelligence, and next-generation digital platforms, which is expected to enhance local digital infrastructure.
- Market Potential: Beeline Uzbekistan serves 7.7 million mobile subscribers and over 9 million monthly active users, and by leveraging Rakuten's cloud-native network expertise, both companies aim to improve the quality and efficiency of digital services, further solidifying Beeline's market leadership in Uzbekistan.
- Technological Innovation: The collaboration will assess opportunities in Open RAN architecture and AI-driven network operations, which are expected to accelerate service delivery and enhance user experiences, thereby positioning Uzbekistan as a digital economy leader in Central Asia.
- Expanded Cooperation Scope: VEON's partnership in Uzbekistan will build on its successful collaborations in Ukraine and Kazakhstan, demonstrating the scalability of its approach to introducing cutting-edge technology partnerships in high-growth emerging markets, further driving regional economic growth.
See More
