VEON to Acquire 33.75% Stake in Jungo TV via Cash and Kyivstar Share Swap
VEON has reached an agreement to acquire a 33.75% stake and controlling rights in JungoTV Holdco, the parent company of Jungo TV. The transaction will be structured using $5 million in cash alongside approximately 2.35 million existing Kyivstar shares, which are valued at $18 per share. The deal represents a strategic move for VEON to expand its digital or media footprint through Jungo TV. By utilizing Kyivstar equity as part of the consideration, VEON is leveraging its subsidiary assets to facilitate the acquisition and secure control over the new entity.
Topics: acquisition stake purchase telecommunications
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