VEON declares full ownership of Kyivstar and does not intend to give 45% of its shares to the state of Ukraine
The company intends to defend its rights in courts
VEON Holding (Amsterdam) is and remains the sole and full owner of Ukraine's largest telecommunications operator Kyivstar, the holding said in a statement on Thursday in response to recent reports from law enforcement and the media about the seizure of Kyivstar shares in the case of Russian billionaire Mikhail Fridman and his partners.
"Emphasizing our responsibilities to our employees, customers and investors, VEON and Kyivstar intend to use all available means to protect the rights of VEON and Kyivstar," the statement said.
VEON noted that it welcomes further clarification from the SBU that "the seizure of corporate rights of Ukrainian companies does not affect the protection of the interests of foreign investors and owners of corporate rights, does not impede their economic activity and the possibility of receiving dividends."
The holding company also said it deeply appreciates the support of its investors for its strategic choices, including the exit from Russia that was completed this week, as well as the support received over the past 19 months from regulators in the US, UK and EU.
VEON reiterated that Friedman and his sanctioned partners do not directly own any shares in the holding or Kyivstar, are not part of the governance mechanisms of either company, including the boards of directors, and have no ability to control or influence decisions made by VEON or Kyivstar.
"They do not benefit from VEON or any of its operating companies. Any actions aimed at the rights, benefits or funds of these persons cannot be legitimately directed at Kyivstar or VEON," the statement said.
Read more about this in Mind's article "Why and how soon 45% of Kyivstar shares may go to the state and whether a similar story awaits lifecell".
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