Amsterdam and Dhaka, 20 May 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces that Banglalink, its digital operator in Bangladesh, has signed a Memorandum of Understanding (MoU) with Robi, second largest mobile operator in the Bangladesh and a subsidiary of Axiata Group, to explore potential sharing and optimization of network resources, aiming to expand 4G coverage and enhance network performance.
Infrastructure sharing promotes an “asset-light” business model in line with VEON and Banglalink’s strategy. It supports the customer experience and environmental sustainability goals of both Banglalink and Robi. A successful collaboration would bring wider 4G coverage and improved network quality for customers of both operators, reduce duplications and enable more efficient utilisation of resources, including energy.
“This collaboration represents a significant development for the future of digitalisation in Bangladesh. This first step to explore network sharing will allow Banglalink and Robi to generate efficiencies which will serve the customers of both operators and the country as a whole, in line with Smart Bangladesh Vision 2041. We look forward to unlocking the potential that this collaboration entails; and would like to commend the Government of Bangladesh for promoting an investment landscape that promotes growth, sustainability and efficiency in our industry by supporting collaboration and commitment to innovation,” said Kaan Terzioglu, CEO of VEON.
The collaboration with Robi Axiata is the latest among a number of steps that Banglalink has taken to expand its 4G services with an asset-light approach.
The operator has previously signed an MoU for network sharing with Teletalk, the fourth largest operator in Bangladesh. Earlier this year, it completed the sale of part of its towers portfolio to Summit Towers Limited, a subsidiary of Summit Communications, the largest telecommunications infrastructure company in the country. Banglalink has also taken other steps in prioritising the efficient use of its resources, recently becoming the first operator in the country to phase out 3G.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population – Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan – VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. For more information visit: www.veon.com
Disclaimer
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s strategy, investment and partnership plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
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