Veon Forecasts Starlink User Base in Ukraine to Double to 12 Million
VEON sits 51% above its 52-week low of $34.55 on light trading volume (0.3× avg).
Summary
VEON Ltd. projects a substantial increase in Starlink users in Ukraine, expecting the number to reach 12 million by the end of the year, up from the current 5 million. This growth, facilitated through its subsidiary Kyivstar, represents approximately half of Kyivstar's total customer base and highlights the critical role of satellite connectivity in war-torn regions facing electricity outages. The forecast underscores the strategic value of VEON's partnership with SpaceX's Starlink, which aims to provide resilient internet access. Investors will monitor the actualization of this user growth and its financial contribution, as well as the planned integration of Starlink services in other VEON operating countries like Kazakhstan.
At the time of this announcement, VEON was trading at $52.06 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $34.55 to $64.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.