Russia Wireless Operator Faces Future Where Its Roots Mean Less
- Veon CEO copes with employee death, offices becoming shelters
- Moscow-founded telecom giant sees future growth in Asia
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Veon Ltd., the third-largest mobile-phone provider in Russia, expects to see a smaller share of its business coming from that country over the next few years as it emphasizes growth in Central and Southeast Asia.
Chief Executive Officer Kaan Terzioglu has been in a tough spot with the war in Ukraine and subsequent sanctions imposed on Russia by the U.S., European Union and the U.K. The company receives nearly half of its revenue from the country and about 15% from Ukraine, where its towers have been destroyed and its offices turned into shelters.