01 Apr 2022
VEON Doubles Spectrum Holding in Bangladesh
VEON's Banglalink retains Top Spot in "Spectrum per Customer" Rankings among private operators
Amsterdam, 1st April 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, today announces that Banglalink has acquired new spectrum, doubling the company's spectrum holding in Bangladesh. At the auction, held in Dhaka and organized by the Bangladesh Telecommunication Regulatory Commission (BTRC), Banglalink acquired 40 MHz of spectrum from the 2300 MHz band, ensuring that Banglalink retains its position as the top private operator in Bangladesh in terms of spectrum per customer.
“Bangladesh is a fast-growing economy with endless opportunities,” said Kaan Terzioğlu, group CEO, VEON. “There is an increasing demand for extended digital services, especially from the younger generation, and in Bangladesh, 10-24 year olds make up 27% of the population1 . VEON operates in nine countries and investing in key regions such as this is an important part of our Digital Operator strategy. This allows us to support people’s needs with the very best digital services across the world.”
The additional spectrum available to Banglalink's network will be instrumental in providing almost 38 million Banglalink customers2 with even better access to financial and entertainment services via mobile internet. Banglalink has already been recognized by Ookla as the fastest mobile network in the country for the last two years.
Erik Aas, Chief Executive Officer, Banglalink, said, "We congratulate the BTRC for successfully conducting the spectrum auction. It is an important step for the industry, as the availability of more spectrum will result in better internet speed and high quality digital services for the citizens of Bangladesh. In keeping with our objective - 4G for all, not 5G for a few, we intend to utilize the new spectrum primarily for 4G in next 2-3 years".
Banglalink also recently announced its plan to build 3,000 new towers this year. It will remain committed to maintaining high-quality data and digital services and ensuring nationwide 4G coverage.
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets. VEON operates in nine countries serving 220 million customers over a population of 680 million people. For more information, visit: https://www.veon.com
Banglalink is one of the leading digital communications service providers in Bangladesh, working to unlock new opportunities for its customers as they navigate the digital world. Driven by the vision of transforming lives through technology, Banglalink also strives to transform into a future-ready service provider capable of catering to the demands of the new digital era. It is a subsidiary of VEON Ltd - a Nasdaq and Euronext listed connectivity provider headquartered in the Netherlands.
This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forwardlooking statements are not historical facts, and include statements relating to, among other things, expectations regarding the potential benefits of the transaction described above. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. Furthermore, elements of this release contain or may contain, "inside information" as defined under the Market Abuse Regulation (EU) No. 596/2014.