VEON (VEON) Stock: Why The Price Increased Today

By Amit Chowdhry ● Mar 11, 2022
  • The stock price of VEON Ltd. (NASDAQ: VEON) increased by over 5% during intraday trading today. This is why.

The stock price of VEON Ltd. (NASDAQ: VEON) increased by over 5% during intraday trading today. Investors are responding positively to the company announcing that its subsidiary has prepaid its RUB 30 billion (approximately $259 million) interest-bearing loan with VTB Bank (PJSC) (VTB) in accordance with its terms, and the facility has been cancelled.

The repayment and cancellation is in compliance with applicable sanctions. And following this payment to VTB, the VEON Group has no further loans outstanding with VTB.

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