VEON — OLX acquisition adds to VEON’s digital offering

VEON’s Kazakh subsidiary, Beeline Kazakhstan, has agreed to acquire 100% of OLX Kazakhstan (OLX KZ) from OLX Group for a total consideration of $75m. OLX KZ is a leading online classifieds business in Kazakhstan, with c 10 million monthly active users and 3.6m listings as of June 2025. This acquisition is in keeping with VEON’s other recent adjacent acquisitions, which have focused on diversifying the group into adjacent digital services including platforms, digital ecosystems and other asset-light businesses. At its Q225 results, VEON reported that its digital revenues had grown to represent 16.5% of total group revenues (up from 11% at end-Q224), a 57% increase year-on-year, and this reflected a combination of strong organic growth (particularly from JazzCash) and acquisitions.