Kyivstar Expands Spectrum Holdings with Major Investment in Ukraine
VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a prominent global digital operator, has exciting news as its Ukrainian subsidiary, Kyivstar, recently acquired valuable spectrum that will significantly elevate its capabilities. In a successful auction conducted by Ukraine’s National Commission for State Regulation of Electronic Communications and Postal Services, Kyivstar secured an impressive 2x5 MHz spectrum in the 2100 MHz band and an additional 40 MHz in the 2300 MHz band.
Major Financial Commitment to Ukrainian Development
This strategic acquisition is backed by a robust investment of UAH 1.43 billion (approximately 34 million USD), demonstrating Kyivstar's commitment to furthering Ukraine's economic landscape. Following this acquisition, Kyivstar will increase its total spectrum holding from 152 MHz to a remarkable 202 MHz. This enhancement solidifies its dominance as the leading private telecom operator in Ukraine regarding total available spectrum.
VEON’s Vision for Ukraine
VEON Group CEO Kaan Terzioglu emphasized the importance of investing in Ukraine, stating, "We have consistently stated that the time to invest in Ukraine is now, committing 1 billion USD in investments through 2027. Today's spectrum acquisition underscores our dedication to enhancing Ukraine's digital infrastructure, ensuring robust 4G connectivity throughout the nation, and fortifying our network's energy resilience. This commitment will keep Ukraine connected and supports the growing demand for digital services."
Kyivstar's Impact on the Community
Kyivstar has already established itself as a formidable player in the telecommunications field, boasting over 23 million mobile subscribers and more than 1 million home internet subscribers. Additionally, it spreads its reach by providing digital healthcare services to over 28 million registered patients and 1,600 healthcare institutions through its platform, Helsi. Furthermore, the company engages 1.6 million monthly active users on KyivstarTV, Ukraine's leading infotainment platform.
Enhancing Connectivity for All
Since February 2022, Kyivstar has successfully maintained an impressive network availability rate of over 90%. This unwavering commitment not only serves its customers but also extends to the entire Ukrainian population, ensuring everyone has access to essential communication services.
Meet the Needs of Modern Consumers
As VEON continues to invest in enhancing Ukraine's telecommunications infrastructure, the efforts of Kyivstar exemplify a broader commitment to fulfill the evolving needs of modern consumers. The acquisition of the new spectrum is just one of many strategic moves designed to meet the growing demand for faster and more reliable communication services. VEON's initiatives aim to empower individuals and drive economic growth by improving digital connectivity.
A Look Ahead: The Future of VEON and Kyivstar
VEON also plays a significant role in numerous international markets, serving nearly 160 million customers through its dynamic offerings. The group's presence spans six countries, which together house over 7% of the world's population, allowing VEON to make a transformative impact on communities while driving innovation with technology-based services.
Ongoing Commitment to Ukraine
With Kyivstar's consistent ranking as one of Ukraine's top five investors over the past two years, VEON’s investments signify a broader strategy of fostering growth and stability in the region. Praised for its contributions to Ukraine's telecom industry, VEON and its subsidiary, Kyivstar, are poised to influence economic development further while enhancing digital services throughout the nation.
Frequently Asked Questions
What recent acquisition did Kyivstar make?
Kyivstar acquired 2x5 MHz spectrum in the 2100 MHz band and 40 MHz in the 2300 MHz band.
How much is Kyivstar investing in Ukraine?
Kyivstar is investing UAH 1.43 billion (approximately 34 million USD) in the Ukrainian economy.
How many subscribers does Kyivstar have?
Kyivstar has over 23 million mobile subscribers and over 1 million home internet subscribers.
What services does Kyivstar provide?
Kyivstar provides mobile and home internet services, digital healthcare services through Helsi, and operates KyivstarTV.
What is VEON's commitment to investment in Ukraine?
VEON has committed 1 billion USD in investments in Ukraine through 2027 to enhance digital infrastructure.
