22 Jun 2023 17:24

VEON intends to invest $600 mln in Kyivstar infrastructure in next three years

MOSCOW. June 22 (Interfax) - Kyivstar, which is Ukraine's biggest mobile communications provider, will receive $600 million from parent company VEON over the next three years to carry out infrastructure projects and expand 4G coverage and support services, Ukrainian media reported, citing a VEON press release.

"The investment will span Kyivstar's infrastructure projects, ensuring essential connectivity and 4G services throughout the country [and] the development of superior digital services," VEON said.

The company said the investments would support Kyivstar services. They will expand the operator's network, starting with "LTE everywhere" and fiberization, and eventually leading to 5G-focused reconstruction, and improve the quality of internet coverage.

With the planned expansion of 4G networks, Kyivstar plans to cover 98% of Ukraine's population in 4G in three years' time, including in small and remote settlements. The investments will expand the scope for connectivity.

VEON, the international telecommunications and connectivity group, owns 100% of Kyivstar, which provides services based on mobile and fixed-line technologies.