VEON Relocates Corporate Headquarters: A Strategic Move to the Middle East

VEON, the owner of the leading Ukrainian mobile operator Kyivstar, announces a significant move: relocating its corporate headquarters from the Netherlands to the United Arab Emirates. This move aims to increase visibility among investors from the Gulf region and is expected to be completed by the end of the second quarter of 2025. With this decision, following its delisting from Euronext Amsterdam, VEON is expected to become the largest Nasdaq-listed company headquartered in Dubai. Unlike many European competitors, the telecommunications company focuses on markets with low 4G penetration and offers additional digital services in the health and banking sectors. In August, VEON emphasized that withdrawing from Amsterdam contributes to cost reduction, with New York being regarded as the ideal environment for global technology businesses. The Group CEO, Kaan Terzioglu, explained that the move to Dubai is a strategic realignment to operate closer to key regions. Employees from Amsterdam will be offered transition arrangements. Following the sale of the Russian business in 2023, Pakistan is VEON's largest market. In Ukraine, which accounts for almost one-third of the group's core earnings, investments of one billion dollars in digital infrastructure are planned. At the same time, the Bangladeshi unit Banglalink aims to expand its customer base through regulatory reforms.