olivLaw · US equity research
VEON Ltd. VEON
Radiotelephone Communications · SIC 4812 · Vertical: Radiotelephone Communications (SIC 4812)
VEON Ltd. is a digital operator active in five frontier markets across South Asia, Eastern Europe and Central Asia, through local brands such as Jazz, Kyivstar and Banglalink. The company is extending its DO1440 digital model and has separated the Kyivstar listing on Nasdaq, which changes the group's capital structure. More than 150 million customers and 18,938 employees reflect the scale of operations, and the 2025 annual report shows a group in the middle of strategic reconfiguration. Source:.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, VEON Ltd. (VEON) stock was 79.01 USD (+1.15% on the day), with market capitalisation 146.1 bn USD, P/E 263.4 on diluted EPS of 0.30 USD over the last 12 months, dividend yield 0.00%, beta 0.93, 52-week range 43.57–88.45 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.2
- neutral
- Bollinger (20, 2)
- 75.28 – 88.39
- in the lower half of the band · %B 0.28 · band width 16.0%
- SMA 50 / 200
- 74.04 / 58.12
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.13 / 3.24
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +2.7% | −1.1% | +3.8 pp | — |
| 3 months | +44.9% | −0.5% | +45.4 pp | — |
| 6 months | +60.8% | +4.4% | +56.4 pp | — |
| Year to date | +50.3% | +12.3% | +38.0 pp | — |
| 1 year | +73.8% | +13.5% | +60.2 pp | +6.6% |
| 3 years | +364.5% | +76.4% | +288.1 pp | +5.8% |
| 5 years | +58.0% | +63.7% | −5.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 4-quarter history (min 112.5, median 174.7, max 175.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9.1 bn | 8.1 bn | 3.5 bn | 3.9 bn | 3.8 bn | 3.7 bn | 4.0 bn | 4.4 bn |
| Revenue YoY | −4.1% | −11.0% | −57.0% | +10.6% | −2.5% | −1.5% | +8.3% | +9.9% |
| Net income | 362.0 m | 683.0 m | -316.0 m | 801.0 m | -9.0 m | -2.5 bn | 487.0 m | 591.0 m |
| Net income YoY | unavailable | +88.7% | −146.3% | unavailable | −101.1% | unavailable | unavailable | +21.4% |
| Diluted EPS | unavailable | 0.36 | -0.20 | 0.38 | -0.09 | -1.44 | 0.23 | 0.30 |
| Diluted EPS YoY | unavailable | unavailable | −155.6% | unavailable | −123.7% | unavailable | unavailable | +30.4% |
| net % | 4.0% | 8.4% | -9.1% | 20.8% | -0.2% | -66.3% | 12.2% | 13.4% |
| Free cash flow | unavailable | unavailable | 1.9 bn | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.7 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 1.6 bn USD
- Total assets
- 9.2 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 40.9%
- ROA
- 6.9%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.5 bn | 3.9 bn | 3.8 bn | 3.7 bn | 4.0 bn | 4.4 bn | SEC (XBRL)· 16 Mar 2026verified |
| Operating income | 823.0 m | 1.0 bn | 1.2 bn | 929.0 m | 1.1 bn | 1.4 bn | SEC (XBRL)· 16 Mar 2026verified |
| Interest expense | 569.0 m | 591.0 m | 583.0 m | 531.0 m | 495.0 m | 535.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Pre-tax income | 373.0 m | 464.0 m | 802.0 m | 559.0 m | 704.0 m | 785.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Income tax | 279.0 m | 344.0 m | 69.0 m | 179.0 m | 217.0 m | 194.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Net income | -316.0 m | 801.0 m | -9.0 m | -2.5 bn | 487.0 m | 591.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Diluted EPS | -0.20 | 0.38 | -0.09 | -1.44 | 0.23 | 0.30 | SEC (XBRL)· 16 Mar 2026verified |
| Weighted average diluted shares | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | SEC (XBRL)· 16 Mar 2026verified |
| Dividend per share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | SEC (XBRL)· 16 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.7 bn | 2.3 bn | 3.1 bn | 1.9 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 16 Mar 2026verified |
| Receivables | — | — | 456.0 m | 542.0 m | 448.0 m | 601.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Inventories | 111.0 m | 111.0 m | 18.0 m | 23.0 m | 15.0 m | 32.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Current assets | 2.9 bn | 3.6 bn | — | — | — | — | SEC (XBRL)· 29 Apr 2022verified |
| Property, plant & equipment, net | 6.9 bn | 6.7 bn | 2.8 bn | — | — | — | SEC (XBRL)· 24 Jul 2023verified |
| Goodwill | 2.7 bn | 1.5 bn | 394.0 m | 349.0 m | 338.0 m | 399.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Total assets | 14.6 bn | 15.9 bn | 15.1 bn | 8.2 bn | 8.0 bn | 9.2 bn | SEC (XBRL)· 16 Mar 2026verified |
| Accounts payable | 1.9 bn | 2.0 bn | 1.1 bn | 1.2 bn | 1.3 bn | 1.4 bn | SEC (XBRL)· 16 Mar 2026verified |
| Current liabilities | 4.4 bn | 4.4 bn | 4.6 bn | 3.6 bn | 3.6 bn | 3.4 bn | SEC (XBRL)· 16 Mar 2026verified |
| Equity | 1.0 bn | 1.5 bn | 767.0 m | 1.1 bn | 1.3 bn | 1.6 bn | SEC (XBRL)· 16 Mar 2026verified |
| Shares outstanding at year end | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.8 bn | SEC (XBRL)· 16 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.4 bn | — | — | — | — | — | SEC (XBRL)· 15 Mar 2021verified |
| Capex | 550.0 m | 699.0 m | 634.0 m | 531.0 m | 627.0 m | 733.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Free cash flow | 1.9 bn ≈ | — | — | — | — | — | SEC (XBRL)· 15 Mar 2021derived |
| Investing cash flow | -1.9 bn | — | — | — | — | — | SEC (XBRL)· 15 Mar 2021verified |
| Financing cash flow | -103.0 m | — | — | — | — | — | SEC (XBRL)· 15 Mar 2021verified |
| Share repurchases | — | — | 0 | 0 | 8.0 m | 105.0 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 146.1 bn USD
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.23 – 5.69 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E3.23 – 5.69 (Mid 4.34)6 companies used · median multiple 14.5x · quartiles 10.8x – 19.0xAD, IHS, KYIV, SPOK, TIGO, TMUS
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 13.4% | 67 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 5.4% | 45 (on a fixed band) | 22% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.7x | 18 (on a fixed band) | 17% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 263.4x | 14 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.1% | 1 (on a fixed band) | 17% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial18/100 · 1/3 factors with a value
- Growth· partial45/100 · 1/2 factors with a value
- Quality· partial67/100 · 1/3 factors with a value
- Returns· partial1/100 · 1/2 factors with a value
- Valuation· partial14/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
VEON Ltd. (VEON). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 4.4 bn USD in 2025; YoY growth 9.9%; net margin 13.4%; ROE 48.5%.
The estimated value range is 3.23–5.69 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 4.34 USD, the price of 79.01 USD leaves a potential of -94.5% (value / price − 1) and a margin of safety of -1,720.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Interest coverage: 2.7x
- P/E (TTM): 263.4x
- Shareholder yield (distributions): 0.1%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Radiotelephone Communications (SIC 4812) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CHTChunghwa Telecom Co., Ltd. | 380.0 bn | 326.5 | 9.4% | 16.2% | −3.8% | +17% / +29% |
| TMUST-Mobile Us, Inc. | 168.6 bn | 15.4 | 19.4% | 12.0% | +8.5% | −24% / +6% |
| VEONVEON Ltd. | 146.1 bn | 263.4 | 48.5% | 13.4% | +9.9% | +74% / +364% |
| TIGOMillicom International Cellular SA | 13.0 bn | 9.8 | 36.2% | 22.6% | +0.3% | +45% / +357% |
| KYIVKyivstar Group Ltd. | 3.1 bn | 23.9 | 10.4% | 10.7% | +25.9% | −4% / unavailable |
| ADArray Digital Infrastructure, Inc. | 2.9 bn | 5.4 | 18.3% | 250.8% | +58.3% | −32% / −27% |
| IHSIHS Holding Ltd | 2.8 bn | 20.2 | — | 9.1% | +3.6% | +19% / +82% |
| SPOKSpok Holdings, Inc. | 252.6 m | 13.6 | 12.8% | 13.9% | +1.5% | −9% / −28% |
| SIDUSidus Space, Inc. | 18.7 m | — | -27.0% | -970.3% | −27.6% | +49% / −82% |
| CHAICore Ai Holdings, Inc. | 3.6 m | — | -1,196.1% | -57.2% | +58.6% | −93% / −100% |
| SKMSK Telecom Co., Ltd. | — | — | 10.8% | 7.0% | +1.9% | +55% / +39% |
| TUTelus Corp | — | — | 7.1% | 5.4% | +0.6% | −30% / −49% |
| VODVodafone Group Public Ltd Co | — | — | -7.4% | -11.1% | +2.0% | +31% / +80% |
1- and 3-year price returns: for VEON from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 50.21 Total return -36% · Per year -36% | 88.73 Total return 12% · Per year 12% | 133.60 Total return 69% · Per year 69% |
| 3 years | 49.64 Total return -37% · Per year -14% | 98.61 Total return 25% · Per year 8% | 162.89 Total return 106% · Per year 27% |
| 5 years | 49.06 Total return -38% · Per year -9% | 109.58 Total return 39% · Per year 7% | 198.60 Total return 151% · Per year 20% |
- Exit P/E± 24.65
- Net margin± 17.26
- Annual revenue growth± 14.04
- Annual dilution± 1.45
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 16 Mar 2026; since then the company filed 6-K (20 Oct 2026), 6-K (19 Oct 2026), 6-K (23 Sept 2026), 6-K (31 Jul 2026), 6-K (17 Jun 2026).
In brief
VEON Ltd. is a digital operator active in five frontier markets across South Asia, Eastern Europe and Central Asia, through local brands such as Jazz, Kyivstar and Banglalink. The company is extending its DO1440 digital model and has separated the Kyivstar listing on Nasdaq, which changes the group's capital structure. More than 150 million customers and 18,938 employees reflect the scale of operations, and the 2025 annual report shows a group in the middle of strategic reconfiguration. Source: 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Exposure to the war in Ukrainehigh
The war affects Kyivstar infrastructure, liquidity and the ability to operate; sanctions can limit cash movements and dividends 1.
- Impairment riskhigh
The group has flagged possible impairments of cash-generating units, including in Bangladesh, which could reduce the value of non-current assets 1.
- Currency and translation riskmedium
Fluctuations of local currencies against the dollar can affect reported results and the value of assets in the group's reporting currency 1.
- Indebtedness and dependence on subsidiariesmedium
The current debt level and the holding company's dependence on subsidiary dividends can limit the ability to meet financial obligations 1.
- Litigation and regulationmedium
License procedures in Pakistan and tax disputes may not end in the group's favor, which could create additional costs 1.
Investment thesis
What would need to be true (bull case)
- If 4G and digital service adoption continues in Pakistan, data revenue could grow faster than voice revenue 1.
- Asset sales and the buyback program show management can rebalance capital without giving up operations 1.
- The Kyivstar Nasdaq listing could give the Ukrainian assets a separate valuation if conditions in the region stabilize 1.
What would break the thesis
- The war and sanctions could block cash flows from Ukraine to the group even while operations continue 1.
- Inflation and political instability in Bangladesh could prolong pressure on consumer spending and results 1.
- Competition from digital operators and OTT providers could erode revenue from traditional connectivity services 1.
What to watch
- Quarterly results and guidance for Pakistan (PMCL)Q1 2027
- Development of VEON's stake in Kyivstar Group Ltd. and the KYIV share2027
- Execution of the buyback program of up to US$100 million2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 16 Mar 2026; since then the company filed 6-K (20 Oct 2026), 6-K (19 Oct 2026), 6-K (23 Sept 2026), 6-K (31 Jul 2026), 6-K (17 Jun 2026).
The business
VEON Ltd. is a digital operator headquartered in Dubai that provides mobile and fixed telecommunications and digital services, including financial services, entertainment, healthcare, education and digital enterprise services 1. The group operates through local subsidiaries in Pakistan, Ukraine, Kazakhstan, Uzbekistan and Bangladesh. According to the report, the group served more than 150 million customers 1. The company has moved to an 'asset-light' model, selling tower infrastructure and retaining core assets. Source: 1.
In 2025 the group reported the sale of its Pakistan tower portfolio to Engro Corp, the acquisition of Uklon in Ukraine and a share buyback program of up to US$100 million 1. Together these show management using asset sales, digital acquisitions and capital returns at the same time to rebalance its geographic portfolio 1.
Segments
Pakistan (Jazz)
PMCL, the Jazz operator, is the market leader in Pakistan. As of December 31, 2025 it had 73.9 million mobile customers, of whom 75.2% were 4G users, and 82.4 million digital customers 1. Approximately 97.4% of customers were on prepaid plans 1. Source: 1.
Ukraine (Kyivstar)
Kyivstar is Ukraine's leading digital operator, held through Kyivstar Group Ltd., listed on Nasdaq as KYIV since August 2025. VEON's stake fell to 89.6% after the business combination with Cohen Circle and to 83.6% after the February 2026 secondary offering 1. Operations are affected by the ongoing war and the risk of nationalization 1.
Kazakhstan, Uzbekistan and Bangladesh
The operations in Kazakhstan (LLP KaR-Tel), Uzbekistan (LLC Unitel) and Bangladesh (Banglalink) complete the portfolio 1. Bangladesh has been hit by political instability since 2024 and high inflation, which peaked at 9.94% in January 2025, and VEON has flagged a possible impairment of the Bangladesh unit 1.
Market context
VEON operates in frontier markets with population growth and rising 4G and smartphone adoption, but with high political, currency and regulatory risk 1. The group covers more than 6% of the world's population, according to the report 1. Trade tensions, US tariffs and regional conflicts can affect demand and operating costs 1.
Trends
- 4G and smartphone adoptiontailwind
Customers continue to migrate to 4G/LTE, and in Pakistan 75.2% of customers already use 4G 1. Data revenue growth could offset pressure on voice tariffs if barriers to smartphone adoption fall.
- Asset-light strategymixed
Selling tower infrastructure to partners, such as Engro Corp in Pakistan, reduces capital tied up and frees resources for digital services 1. The risk is dependence on long-term leases of the infrastructure that was sold.
- Inflation and political instabilityheadwind
In Bangladesh, high inflation and instability since 2024 have reduced consumer telecom spending and hurt group results 1. If inflation persists, average revenue per customer could decline in the affected markets.
- Digital services and AItailwind
Integrating the AI1440 strategy and financial, entertainment and ride-hailing services (such as the Uklon acquisition) opens new revenue sources 1. If these services reach scale, they could reduce dependence on traditional connectivity revenue.
Competitive position
VEON competes with local mobile operators in each market, such as Grameenphone in Bangladesh, which has challenged interconnection termination charges 1. In addition, digital-native operators and OTT providers with more personalized or lower-cost services lower entry barriers, as the report's risk factors describe 1.
Competition also includes players developing similar or superior AI products, which could require additional technology and spectrum investment 1. VEON's leading position in Pakistan and its infrastructure partnerships give it an advantage in the markets where it operates 1.
- Grameenphone
Bangladeshi mobile operator that sought a stay of the directive on termination charges for operators with significant market power 1.
- Digital-native operators and OTT providers
Companies offering more personalized or lower-cost services that lower entry barriers in VEON's markets 1.
- Local mobile operators in Ukraine, Kazakhstan and Uzbekistan
Regional rivals competing directly with VEON subsidiaries in those markets 1.
- AI technology providers
Companies developing similar AI products that could compete with the group's digital platforms 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- VEON покупает 100% мобильного оператора Perfectum в Узбекистане за $207 млнInterfax Russia (RU) · 19 Oct 2026 · RU
The latest news item in our archive is from 19 Oct 2026; the newest SEC filing is from 20 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)20 Oct 2026
- Current report (foreign issuer)19 Oct 2026
- Current report (foreign issuer)23 Sept 2026
- Current report (foreign issuer)31 Jul 2026
- Current report (foreign issuer)31 Jul 2026
- Current report (foreign issuer)17 Jun 2026
- Current report (foreign issuer)02 Jun 2026
- Current report (foreign issuer)20 May 2026
- Current report (foreign issuer)20 May 2026
- Current report (foreign issuer)18 May 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / VEON Ltd. · 16 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.