RTTNews | Sep 6, 2021 02:39AM EDT

02:38 Monday, September 6, 2021 (RTTNews.com) - VEON Ltd. (VEON) has agreed to sell the company's mobile network towers in Russia to Service-Telecom for a total consideration of $970 million. The transaction involves the sale of 100% of National Tower Company, a subsidiary of VEON. It operates a portfolio of approximately 15,400 mobile network towers in Russia. VEON said the deal allows it to release the capital to deleverage balance sheet.

Service-Telecom is a partner to PJSC VimpelCom, which operates in Russia under the Beeline brand. PJSC VimpelCom and Service-Telecom have entered into a long-term master agreement regarding the provision of tower infrastructure services for an initial period of 8 years, and multiple extensions.

Read the original article on RTTNews ( https://www.rttnews.com/3223361/veon-announces-sale-of-national-tower-company-in-russia-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved