VEON Group, the parent company of Kazakhstan’s Beeline mobile operator, will relocate its headquarters from Amsterdam to Dubai in a bid to access global talent and expand its investor base in the Gulf region.
The UAE has been home to VEON’s expanding operations since early 2022. The company’s head office will be based at the Dubai International Financial Centre (DIFC), making VEON the largest Nasdaq-listed company headquartered in Dubai.
Kaan Terzioglu, CEO of VEON, stated that the decision to relocate reflects the company’s strategic focus on being closer to its key markets. This move will enable the telecom operator to capitalize on the vast opportunities Dubai offers, including access to world-class talent and enhanced visibility with a broad base of Gulf investors, said Terzioglu.
VEON is a telecommunications and digital services company listed on the U.S. stock exchange Nasdaq and Euronext, a pan-European stock exchange with operations in Belgium, France, the Netherlands, Portugal, Ireland, Norway and Italy.
In addition to Kazakhstan, the company provides telecommunication services under the Beeline brand in Kyrgyzstan and Uzbekistan. VEON’s projects also include Kyivstar in Ukraine, Banglalink in Bangladesh and Jazz in Pakistan.
According to the MarketScreener website, the ownership structure of VEON consists of Russian Alfa Group, holding a 45.5% stake, Dutch Stichting Administratiekantoor Mobile Telecommunications Investor with 7.8% and Echog N.V. (Private Equity) controlling 7% of the company’s shares.
