VEON ( (VEON) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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VEON Ltd.’s stock experienced a notable decline following the announcement of its strategic intent to indirectly list its Ukrainian digital operator, Kyivstar, on the Nasdaq Stock Market. This move involves a business combination with Cohen Circle Acquisition Corp. I and aims to make Kyivstar the first purely Ukrainian company publicly listed in the U.S. The reorganization plan, expected to conclude by March 2025, includes a Dutch legal demerger. VEON Holdings will retain Kyivstar and certain assets, while a new entity will manage other subsidiaries. This development is part of VEON’s strategy to leverage Kyivstar’s growth and support Ukraine’s digital transformation. No changes in price targets were mentioned.
More about VEON
YTD Price Performance: 5.57%
Average Trading Volume: 67,029
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.19B
For further insights into VEON stock on TipRanks’ Stock Analysis page.
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