VEON’s Kyivstar Acquires New Spectrum, Investing UAH 1.4 Billion in Ukraine’s Economy

VEON announced that its wholly-owned subsidiary in Ukraine, Kyivstar, has successfully acquired 2x5 MHz spectrum in the 2100 MHz band and 40 MHz spectrum in the 2300 MHz band at an auction held by Ukraine’s National Commission for State Regulation of Electronic Communications, Radio Frequency Spectrum, and Postal Services.

Kyivstar will invest UAH 1.43 billion (c. 34 million USD) in the Ukrainian economy through this spectrum acquisition. With this new acquisition, Kyivstar will boost its total spectrum holding from 152 MHz to 202 MHz, enabling it to retain the leading position among all private operators in Ukraine in terms of total amount of available spectrum.

"We have consistently stated that the time to invest in Ukraine is now, and have committed 1 billion USD in investments through 2027. Today's spectrum acquisition is further proof that VEON, through its subsidiary Kyivstar, is here to walk the talk. We have an unwavering commitment to building Ukraine's digital infrastructure, taking 4G connectivity across the nation, bolstering our network’s energy resilience to keep Ukraine connected, and investing in the digital services that Ukraine needs," said VEON Group CEO Kaan Terzioglu.

Kyivstar is the 100%-owned subsidiary of VEON. Forbes Ukraine and New Voice of Ukraine have previously named Kyivstar the fifth largest investor in Ukraine over 2022-2023, making VEON the country’s largest foreign investor during that period. Kyivstar has over 23 million mobile subscribers and over 1 million home internet subscribers; it provides digital healthcare services to more than 28 million registered patients and 1,600 healthcare institutions through Helsi; and serves 1.6 million monthly active users with Ukraine’s leading infotainment platform KyivstarTV.

Source: VEON media announcement