Why Veon Stock Blasted 10% Higher on Wednesday

Eric Volkman, The Motley Fool

February 8, 2023 at 6:43 p.m.·2 min read

Why Veon Stock Blasted 10% Higher on Wednesday

Russia and Central Asia-focused telecom Veon (NASDAQ: VEON) had some excellent regulatory news to impart on Wednesday, and as a result, its U.S.-listed shares popped by 10%. Specifically, the Sub-Commission of the Government Commission for Control over Foreign Investments has turned on the green light for Veon's proposed sale to senior members of the management of a related entity, PJSC VimpelCom. The name VimpelCom, incidentally, was a previous moniker for Veon.

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