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GlobeNewswire·

VEON Expands its Digital Commerce Footprint with Acquisition of OLX in Kazakhstan

  • VEON subsidiary Beeline Kazakhstan completed the acquisition of 100% of OLX Group LLP from OLX Global B.V. for a total consideration of USD 81 million, inclusive of approximately USD 6 million in completion adjustments.
  • The transaction followed receipt of all relevant regulatory approvals after the agreement was announced in October 2025.
  • OLX KZ serves approximately 9 million monthly active users, reaching over 52% of Kazakhstan's active internet population.
  • The platform reported annual revenue of just over USD 28 million for the year ending March 2026.
  • The acquisition advances VEON's digital operator strategy by integrating a leading classifieds platform into its existing portfolio of financial services, entertainment, healthcare, education, & enterprise solutions.
  • OLX KZ will continue to operate under a transitional IT services arrangement provided by OLX Group to ensure uninterrupted service for users.
  • VEON reported serving 227.7 million digital customers in Q2 2026, with digital revenue growing 53.6% year-on-year to account for over a quarter of group revenue.
Company
VEON Ltd.
Keywords
Nasdaq:VEON, VEON Ltd.