Veon flogs its Russian towers for nearly $1 billion

Netherlands-based operator group Veon has joined the broader trend by selling its mobile towers in Russia to passive infrastructure specialist Service-Telecom.
While there is a strong precedent for operators raising cash by selling and then leasing back their towers, it’s novel to see a company other than Cellnex take the opportunity. Service-Telecom already manages a bunch of Veon’s (under the brand Beeline) passive infrastructure in much of Russia and reckons RUB70.65 billion is an