Veon Exits Russia After Selling Unit to Local Executives
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Veon Ltd. said on Monday that it has completed the sale of its Russia unit to senior country managers, capping months of negotiations to exit the country after its 2022 invasion of Ukraine.
PJSC VimpelCom was sold to the local management team led by Chief Executive Officer Alexander Torbakhov, the Amsterdam-headquartered telecommunications company said in a statement. The deal doesn’t provide for any buyback arrangements.