VEON To Invest $600 Mln In Ukraine

(RTTNews) – Telecom company VEON Ltd. (VEON), announced on Wednesday that it will invest through its subsidiary Kyivstar, $600 million to the recovery of Ukraine over the next three years.

The investment will be towards infrastructure projects, connectivity and 4G services throughout the country, and providing access to digital services to all Ukrainians.

Kyivstar has been maintaining essential connectivity for its customers, currently 24.3 million mobile and 1.1 million fixed-line users. It has also provided free Wi-Fi to shelters and new settlements.

Kyivstar plans to cover 98 percent of the population with 4G in three years time, including small and remote settlements.

On Tuesday, shares of VEON closed at $20.22, down 3.71% or $0.78 on the Nasdaq.