Kyivstar continues 4G rollout in Ukraine

Veon subsidiary Kyivstar upgraded approximately 4,000 4G base stations in Ukraine last year and has increased its 4G user base in the country to 14.3 million. However, revenue slumped by 3.3 percent during the fourth quarter of last year, with Kviystar blaming this on a cyberattack, which resulted in a temporary disruption of its network and services in December.

"When the Russia-Ukraine war started, we made a choice. We chose Ukraine," he said. "Our exit from Russia resulted, as you can see, in full-year results in a very different Veon. We might be more compact in terms of balance sheet, half the size, but today we are a much faster-growing company with a very healthy balance sheet."

Terzioğlu added: "We are fully committed to Ukraine. We stand with our choice. The Ukrainian people and their future is our future, our people. We are a vital provider of communication and we play a critical role in ensuring digital services to the country. We remain actively engaged with Ukrainian officials."