On November 6, 2026, VEON Ltd. announced a significant acquisition that marks a pivotal step in its digital operator strategy. The company has acquired 100% of OLX Group LLP in Kazakhstan for $81 million, a move aimed at enhancing its digital services portfolio and expanding its market presence in the region.

This acquisition, which follows the receipt of relevant regulatory approvals, allows VEON's subsidiary Beeline Kazakhstan to integrate OLX KZ, a leading classifieds platform in Kazakhstan. With over 9 million monthly active users, OLX KZ reaches more than 52% of the active internet population in the country, providing a robust marketplace for goods, services, real estate, and automotive listings.

Kaan Terzioglu, CEO of VEON, emphasized the strategic importance of this acquisition, stating, "This acquisition marks another milestone in the digital operator strategy that is reshaping VEON. Across our markets, we are building digital ecosystems that give millions of people meaningful access to digital financial services, healthcare, education, and entertainment, and OLX KZ brings Kazakhstan's leading classifieds platform into that portfolio."

The acquisition aligns with VEON's broader strategy of integrating category-leading digital services into its offerings. This includes recent expansions into financial services, entertainment, healthcare, education, and enterprise solutions. In the second quarter of 2026, VEON reported serving 227.7 million digital customers, with digital revenue growing by 53.6% year-on-year, now accounting for over a quarter of the Group's total revenue.

Jabbor Kayumov, CEO of Beeline Kazakhstan, expressed enthusiasm about the acquisition, stating, "We welcome the OLX KZ team into Beeline Kazakhstan as we expand our digital ecosystem. Combining our connectivity leadership with OLX KZ's reach will deliver new digital experiences to millions of Kazakhs and strengthen our platform for long-term growth."

The acquisition of OLX KZ is expected to enhance VEON's competitive position in the radiotelephone communications sector, where it faces competition from various players. The integration of OLX KZ into Beeline Kazakhstan's operations is anticipated to create synergies that will benefit both the company and its customers.

Details regarding the next steps following this acquisition were not specified in the filing. However, OLX Group will provide transitional IT services to ensure a smooth handover and uninterrupted service for OLX KZ's users.

As VEON continues to expand its digital services and integrate new platforms, the impact of this acquisition on the competitive landscape in Kazakhstan will be closely watched by industry analysts and competitors alike.

For more information, visit VEON's official website at www.veon.com.