VEON, which owns Kyivstar, Ukraine’s largest mobile phone operator, will relocate its registered headquarters from the Netherlands to the United Arab Emirates, where it feels closer to Gulf investors. The firm plans to move from Amsterdam where it’s been headquartered since 2010 by the second quarter of 2025 to the Middle Eastern business hub of Dubai. VEON, which delisted from Euronext Amsterdam by the end of this year as part of its effort to save on costs, will list in New York, which is more suitable for global technology companies, as it says.
As the company’s chief executive Kaan Terzioglu explained, it ‘reflects our strategic focus and proximity to key markets’ and was made ‘with the practicality of also situating [headquarters’] staff closer to the operational markets’. The firm, which has large operations in Pakistan and Ukraine and is looking to expand its services in Bangladesh, finally sold its Russian operations in 2023. The structural shift shores up a process of reorientation that includes an intensified investment in digital infrastructure across its operating areas.
Source: Reuters
