VEON to sell Armenia business to Team

VEON announced that it has concluded an agreement for the sale of VEON Armenia to Team LLC. It is anticipated that the transaction will close shortly.
VEON Pakistan
The value of the transaction equates to an EV/EBITDA multiple of 2.9x based on 2019 reported EBITDA.

“The sale of our Armenian operations is in line with VEON’s ambition to simplify the Group’s structure and enhance its operational focus on markets with attractive long-term growth opportunities,” VEON said in a statement.