VEON recently announced that it has reached agreement to sell its mobile network towers in Russia to Service-Telecom for a total consideration of RUB$70.65bn (USD$970 million).
Service-Telecom is a well-known partner to VimpelCom, which operates in Russia under the Beeline brand, and already provides the company with passive infrastructure across various regions in Russia. The sale reflects VEON’s continued focus on active portfolio management and the pursuit of opportunities to realise the value of its infrastructure portfolio. With over 50,000 towers across nine dynamic markets, it is one of the industry’s largest.
