VEON Ltd. Estimates Financial Repercussions of Recent Cybersecurity Breach

Amsterdam and Kyiv, January 18, 2024 - VEON Ltd. VEON, a leading global provider of fixed line and mobile telecommunications services headquartered in Amsterdam, today disclosed a preliminary assessment of the financial damage caused by the cyberattack it suffered. The digital operator, which offers an array of converged connectivity and online services, has been rigorously analyzing the repercussions of the security breach to understand its impact on the company's financial health.

Preliminary Findings

The cybersecurity incident that hit VEON has left the telecommunications giant navigating through a wave of challenges. Despite the setback, the company has been proactive in assessing the logistical and financial aftermath. While the specifics of the findings are yet to be fully unraveled, VEON has indicated that it is working closely with cybersecurity experts to mitigate any further risks and ensure a fortified defense mechanism against future digital threats.

Market Response

In response to the cyberattack, there has been a keen interest from shareholders and potential investors seeking clarity on how this might influence VEON's market position. Today's announcement aims to provide transparency and maintain investor confidence as the company navigates through this difficult period. Further information regarding the financial impact and the company's resurgence strategy is anticipated to be released in the coming weeks.

Future Prospects

VEON remains committed to its customers and stakeholders amidst this testing time. The operator continues to prioritize the security of its systems and the data of its subscribers. As part of its strategic plan, VEON is set to reinforce its cybersecurity measures, aiming to shield its infrastructure from any future incidents that might compromise service reliability or data integrity. The drive to enhance digital safeguarding measures is not simply reactive but part of a broader, forward-thinking approach to cybersecurity within the telecom sector.

VEON, Cybersecurity, Telecommunications