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VEON Launched New Share Buyback Program

The telecommunications company plans to repurchase 3.9 percent of its outstanding shares.

Updated on Sept. 23, 2026 in Corporate Finance

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VEON has launched a $200 million share buyback program, planning to repurchase 3.9 percent of its outstanding shares to drive long-term value. AI Illustration. Upload story photo >

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VEON has initiated a share buyback program valued at approximately USD 200 million. The company intends to cancel all shares acquired through this effort to drive long-term value creation.

Why it matters

This move reflects the company's commitment to disciplined capital allocation and upgrading its previous minimum annual buyback target. It replaces a USD 100 million buyback program that was initially announced in November 2025.

The program covers 72.5 million shares or the equivalent in American Depositary Shares, representing 3.9 percent of outstanding shares. Since August 2024, the company has repurchased 4.46 million ADSs for a total consideration of USD 227.6 million.

The players

VEON

VEON is a global digital operator that provides converged connectivity and digital services to millions of customers.

LetterOne

LetterOne is an international investment business based in Luxembourg that holds a significant stake in VEON.

The details

VEON will utilize open market repurchases alongside direct proportional participation from its shareholder, LetterOne. LetterOne has agreed to sell up to 32,957,830 shares to VEON as part of this initiative.

Timeline

  1. VEON issued shares in March 2024.

  2. The company began its cumulative share buyback program in August 2024.

  3. An annual buyback target was announced in May 2025.

  4. A USD 100 million buyback program was announced in November 2025.

  5. The new share buyback program was announced on September 23, 2026.

Market Dynamics

This buyback initiative aligns with a broader trend of corporate capital discipline aimed at bolstering shareholder value in the telecommunications sector. By cancelling acquired shares, the company is following a common strategy to consolidate equity following previous issuance periods.

Shareholders may see an adjustment in the company's equity structure as the program reduces the total number of outstanding shares. Investors should monitor how these buybacks influence earnings per share and overall market liquidity for VEON stock.

The takeaway

This program signals a shift toward larger-scale return of capital to shareholders compared to previous annual targets. Investors looking for capital allocation insights should track the volume of open market repurchases as they proceed.

Further reading

For more information on market trends, visit our Corporate Finance section.

More information

For additional details, visit the VEON corporate information portal.

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Do you believe stock buybacks are a good way for companies to build shareholder value?