VEON Ltd. announced on September 30, 2024, the completion of the sale of its 49% stake in TNS Plus LLP (TNS+), a Kazakh wholesale telecommunications infrastructure services provider. The stake was sold to its joint venture partner, the DAR group of companies, following necessary regulatory approvals.
The total consideration for the sale to VEON, including deferred consideration, amounted to USD 137.5 million. This divestment aligns with VEON's asset-light strategy, allowing Beeline Kazakhstan to continue accessing robust wholesale infrastructure through long-term commercial contracts with TNS+.
Group CEO Kaan Terzioglu stated that this sale strengthens Beeline Kazakhstan's focus on building its portfolio of connected consumer and enterprise digital services. The transaction supports VEON's strategic pivot towards digital offerings like Simply, Izi, Hitter, and BeeTV, and its involvement in developing Kazakhstan’s local-language AI large language model.
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