Court lifts seizure of 47.85% of Kyivstar shares

On November 29, the Shevchenkivskyi District Court of Kyiv lifted the seizure of 47.85% of VEON’s corporate rights in Kyivstar and 100% of VEON’s corporate rights in its other Ukrainian subsidiaries (Ukraine Tower Company, Kyivstar Tech, and Helsi).

This was stated in a statement by the company, Ukrainian News Agency reports.

The statement says that the decision completely lifts the restrict    ions on corporate rights previously imposed by Ukrainian courts.

“As a company listed on the Nasdaq exchange, we sincerely welcome today’s decision on behalf of all our stakeholders. By creating a safe and transparent environment for foreign direct investment, Ukraine is positioning itself as a beacon for international business and instilling additional confidence in current and potential investors. As a company with strong ties to the United States and a long history of commitment to Ukraine, VEON looks forward to deepening our partnership and plans to continue to contribute to Ukraine’s resilience and recovery,” said Augie K. Fabela II, Chairman and American Founder of VEON.

It is noted that VEON is a 100% owner of Kyivstar, which continues to provide services to its customers and the state in accordance with Ukraine’s national security priorities.

Kyivstar was ranked among the top five investors in Ukraine by Forbes Ukraine and NV, making VEON the largest international investor in the country in 2022 and 2023.

As Ukrainian News Agency earlier reported, in early October 2023, a court seized 100% of Kyivstar, a joint stock company controlled by russian oligarchs through the Dutch company VEON Ltd.

In November 2023, the VEON group, which includes the mobile operator Kyivstar, asks the court to lift the arrest of 47.85% of Kyivstar's shares.