VEON plans to invest $1 billion in its subsidiary Kyivstar over 5 years

VEON plans to invest $1 billion in its subsidiary Kyivstar over 5 years

VEON previously announced plans to invest $600 million over three years

The general director of the Dutch VEON, Kaan Terzioglu, said that the parent company of Ukraine's largest operator, Kyivstar, plans to invest $1 billion in Ukraine over five years.

According to him, investments will be used to restore the core backbone network, data centers, and fiber-optic infrastructure. “These things will allow us to deploy 5G and open technologies in the country faster and more efficiently,” Kaan Terzioglu said.

Regarding the arrival of 5G from Kyivstar, Terzioglu noted that the exact timing will depend on many factors, but the company has already begun laying the groundwork for research and development through its international partnerships focused on Open RAN.

In addition, the company is considering launching satellite communications. The head of VEON said: “It is important to build the future of Ukrainian digital infrastructure with technologies open to growth. Not only 5G, but also satellite communications. Therefore, we are working with OneWeb in this direction. We also work with Rakuten in the area of open technologies. Another partner of ours is Amazon Web Services.”

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