VEON And Cohen Circle Announced LOI For Business Combination Aiming To List Kyivstar On Nasdaq

VEON Ltd. (NASDAQ:VEON), a global digital operator ("VEON" or, together with its subsidiaries, the "Group"), and Cohen Circle Acquisition Corp. I ("Cohen Circle"), a special purpose acquisition company (NASDAQ:CCIRU), today announced the signing of a letter of intent ("LOI") to enter into a business combination with the aim of indirectly listing Kyivstar, VEON's digital operator in Ukraine, on the Nasdaq Stock Market LLC ("Nasdaq") in the United States.

Completion of this transaction would make Kyivstar the first purely Ukrainian investment opportunity to be publicly listed on a U.S. stock exchange, enabling U.S. and other international investors to participate more directly in Kyivstar's growth and the broader recovery of the Ukrainian economy.

Kyivstar is Ukraine's leading digital operator, with the country's largest mobile and fixed-line connectivity businesses that serve nearly 24 million connectivity customers. Kyivstar's portfolio of digital services includes the digital healthcare platform Helsi with a registered user base of 28 million and the entertainment streaming platform, Kyivstar TV. Kyivstar is a leading provider of enterprise services in Ukraine, supporting Ukrainian businesses with cloud, cybersecurity and AI solutions, a growing player in the software development landscape of Ukraine via Kyivstar Tech, and a preferred partner for international technology companies, having most recently signed a groundbreaking agreement with Starlink to bring direct-to-cell satellite connectivity to Ukraine to enhance the resilience of communication.