VEON’s Beeline Kazakhstan to Acquire Online Classifieds Platform OLX Kazakhstan

Amsterdam, Astana and Dubai, October 21, 2025 – VEON Ltd. (Nasdaq: VEON) (“VEON”), a global digital operator, and OLX Group announce today that Beeline Kazakhstan, VEON’s Kazakh operating company, has agreed to acquire 100% of the Kazakh online classifieds business OLX Kazakhstan (“OLX KZ”), from OLX Group for a total consideration of USD 75 million.

Founded as a marketplace connecting millions of buyers and sellers across goods and services, jobs, autos and real estate, OLX KZ is one of the most widely used digital platforms in Kazakhstan. As of June 30, 2025, OLX KZ had approximately 10 million monthly active users and 3.6 million listings, and was visited monthly by more than 52% of the country’s active internet users.

“We’re proud of what our team in Kazakhstan has built with OLX KZ – a trusted, scaled marketplace serving millions of Kazakhs every day,” commented Christian Gisy, CEO of OLX Group. “This transaction aligns with our strategy to focus on core categories and key markets, while placing OLX KZ with an owner that brings deep local reach and a powerful digital ecosystem. We thank the team for their outstanding work and are confident Beeline Kazakhstan will drive the business’s next phase of growth.”

“Beeline Kazakhstan is a leader in digital innovation for consumers and enterprises, and the acquisition of OLX KZ represents a significant opportunity to further enhance the digital operator’s offering to customers,” said Kaan Terzioglu, VEON Group CEO. “I am happy to welcome the OLX KZ team, who have successfully developed a consistently profitable, market-leading business in Kazakhstan, to the VEON family and look forward to the opportunities that this new digital vertical will create for the Group’s digital operator strategy.” 

“I am excited about the potential synergies we see from integrating Kazakhstan’s leading online classifieds business into Beeline Kazakhstan’s digital services ecosystem. OLX KZ will make it possible for us to offer customers a more comprehensive and better-integrated set of digital services, while also reaching more users with one of the market-leading businesses,” said Evgeniy Nastradin, CEO of Beeline Kazakhstan.

Beeline Kazakhstan’s acquisition of OLX KZ is subject to regulatory approvals and customary closing conditions. OLX Group will provide certain IT-related support services to OLX KZ over a transitional period.