VEON agrees to acquire 33.75% stake in Jungo TV with control rights
VEON•VEON will acquire a 33.75% stake and control rights in JungoTV Holdco for $5 million in cash and about 2.35 million existing Kyivstar shares, at a reference price of $18 per share. Closing is expected in 2027, subject to customary conditions.
1. Deal terms
VEON will acquire a 33.75% stake and control rights in JungoTV Holdco, the parent of Jungo TV and All Women’s Sports Network. Consideration comprises $5 million in cash at signing and approximately 2.35 million existing Kyivstar shares at closing, valued at a reference price of $18 per share. No new Kyivstar shares will be issued, and the consideration shares will face a staged 12-month lock-up after closing, which is expected in 2027 subject to customary conditions.
2. Content expansion
VEON said the acquisition will expand entertainment and sports programming across its operating markets, supporting subscription, advertising and other content revenue.
