VEON Ltd, a multinational telecommunication company, has announced its plans to invest $600 million in Kyivstar, its Ukrainian subsidiary, over the next three years. The investment will be used to enhance infrastructure projects and ensure essential connectivity and 4G services throughout the country. Kyivstar, which currently has over 24.3 million mobile subscribers and 1.1 million home internet subscribers, will also use the investment to support cybersecurity measures and defend cyberspace against DDoS, phishing, and malware attacks.
With the expansion of 4G networks, Kyivstar aims to cover 98% of Ukraine’s population in 4G within the next three years, including small and remote settlements. The CEO of Kyivstar, Oleksandr Komarov, stated that this investment commitment signifies not only a continuation of their track record but also an acceleration of their investments.
As of June 21, 2023, VEON’s shares were trading lower by 3.91% to $19.44. However, according to CNNMoney, the one analyst offering a 12-month price forecast for VEON Ltd has a median target of $63.75, with a high estimate of $63.75 and a low estimate of $63.75. TipRanks Smart Score, which is derived from eight unique data sets, indicates that VEON is a Hold. Additionally, Simply Wall St. reports that VEON is good value based on its Price-To-Earnings Ratio (2.4x) compared to the peer average (31.7x). VEON’s stock was trading at $12.25 at the beginning of 2023, and since then, VEON shares have increased by 65.1% and are now trading at $20.22.
Source: https://beststocks.com/veon-to-invest-600-million-in-kyivstar-for-4g/