Veon-owned Ukrainian operator Kyivstar revealed plans to broaden its capex spend up to US$1 billion in the next five years, as the operator rebuilds its operations stricken by war.
Veon said in a statement, it spent US$174 million in 2023 and aims to widen the scope of its investment up to US$600 million in 2026 as announced last year, and then to the billion mark in five years but only if "market conditions permit".
Kyivstar has 24 million subscribers across its mobile and fixed services. Veon has 160 million customers across units in Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan.
“In the first days of the war, we at Veon made a decision and chose to serve Ukraine. I would like to thank our international investors for supporting us through our exit from Russia, which we completed in October 2023, and our continued focus on investing in Ukraine, including the 600 million USD commitment which we are setting in motion starting with this year. VEON and Kyivstar will be a part of Ukraine’s future, and we will continue to work day and night to make the future victorious, successful and inspiring.” said Kaan Terzioglu, Veon Group CEO.
