- Veon Ltd, the Dutch-based operator of telecommunications networks, said on Wednesday it was seeking the sale of its Russian operations, which make up more than half of its revenues and earnings.
"There can be no assurance that the sales process mentioned above will result in an acceptable offer or, even if an acceptable offer is obtained and results in an acquisition agreement being reached, that the requisite approvals will be received," the company said in a statement. Since then, scores of foreign firms have sought to reduce exposure to Russia and paused or terminated operations there.
CEO Kaan Terzioglu told Reuters in March he hoped the company would be allowed to continue operating in both markets and spared nationalization on humanitarian grounds, as an essential service.
Source: News Formal (newsformal.com)
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