VEON News & Events

Veon is down -12.8%, or -$6.82 to $46.46.

Veon is down -11.3%, or -$6.02 to $47.26.

VEON noted the mobile spectrum auction held in its largest market Pakistan. With the auction, the Pakistani Government nearly triples the spectrum available to mobile operators, with VEON's subsidiary Jazz securing the largest allocation of 190 MHz. The auction increased the spectrum available to mobile operators from 274 MHz to 754 MHz, strengthening Pakistan's digital infrastructure and supporting faster broadband and next-generation digital services. Jazz's acquisition includes 50 MHz in the 3500 MHz band, 70 MHz in the 2600 MHz band, 50 MHz in the 2300 MHz band, and 20 MHz in the 700 MHz band. Payments for the spectrum awarded in auction will be made in Pakistani Rupees beginning in 2027, allowing operators time to deploy the required network technology. Jazz, which acquired 40% of the spectrum sold in the auction, will pay the PKR equivalent of approximately $239.5M at the prevailing exchange rate.

VEON announced that its subsidiary Jazz International has entered into a definitive agreement to acquire a controlling stake in TPL Insurance, a publicly listed insurance firm in Pakistan. The transaction, which marks a new milestone for VEON's growing digital financial services portfolio in one of its most dynamic growth markets, is expected to close in mid-2026, subject to regulatory approvals. "The acquisition of TPL Insurance marks an important step in our mission to build a comprehensive digital services ecosystem that expands financial inclusion in Pakistan. By integrating insurance into our broader digital financial services portfolio, including JazzCash, Mobilink Bank, and FikrFree, we are creating new ways for millions of Pakistanis to access financial protection, not just payments," said Aamir Ibrahim, Chief Executive Officer of JazzWorld. "Pakistan remains significantly under-insured, and digital platforms provide a powerful opportunity to close this protection gap. Together with TPL Insurance, we look forward to scaling modern, technology-driven insurance solutions that are accessible, affordable and designed for the needs of Pakistan's growing digital population."