# VEON's Beeline Kazakhstan completes $81 million purchase of OLX Kazakhstan

> VEON's Beeline Kazakhstan completed its $81 million acquisition of OLX Kazakhstan, adding a classifieds platform with about 9 million monthly active users.

- Published: 2026-11-06T11:14:32+00:00
- Section: Mergers & Acquisitions
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-06/veon-beeline-olx-kazakhstan-acquisition
- Source: [Stock Titan](https://www.stocktitan.net/news/VEON/veon-expands-its-digital-commerce-footprint-with-acquisition-of-olx-ljugu86tfmu6.html)

## Key takeaways

- Beeline Kazakhstan paid $81 million for 100% of OLX Group LLP, including about $6 million of completion adjustments.
- OLX KZ reaches more than 52% of Kazakhstan's active internet population with approximately 9 million monthly active users.
- OLX KZ reported annual revenue of just over $28 million in the year ending March 2026.

VEON's [Beeline](https://akta.pro/company-profiles/0007hcv/beeline) Kazakhstan has completed the acquisition of 100% of OLX Group LLP from OLX Global B.V. for $81 million, including about $6 million of completion adjustments, after receiving regulatory approvals. [Stock Titan](https://www.stocktitan.net/news/VEON/veon-expands-its-digital-commerce-footprint-with-acquisition-of-olx-ljugu86tfmu6.html) reported the closing on November 6, 2026.

[VEON](https://akta.pro/company-profiles/0000kd1/veon) is a Nasdaq-listed digital operator serving connectivity and digital services across Pakistan, Ukraine, Bangladesh, Kazakhstan and Uzbekistan. [OLX Group](https://akta.pro/company-profiles/0000vkz/olx-group) is the seller of OLX KZ, a classifieds platform for goods, services, real estate and automotive listings.

## How the OLX Kazakhstan Deal Is Structured

Beeline Kazakhstan bought the entire equity of OLX KZ, which VEON describes as reaching more than 52% of Kazakhstan's active internet population with approximately 9 million monthly active users. OLX KZ reported annual revenue of just over $28 million in 2026, for the year ending March 2026.

VEON said the purchase advances its digital operator strategy of integrating category-leading digital services and scaling them through its connectivity base. The portfolio already spans financial services, entertainment, healthcare, education and enterprise solutions, and VEON cited earlier additions including Uklon and Tabletki.ua in Ukraine and TPL Insurance in Pakistan.

"This acquisition marks another milestone in the digital operator strategy that is reshaping VEON," said Kaan Terzioglu, Chief Executive Officer of VEON. Jabbor Kayumov, CEO of Beeline Kazakhstan, said the combination of connectivity leadership and OLX KZ's reach will deliver new digital experiences to millions of Kazakhs.

OLX Group will provide transitional IT services under a handover arrangement to keep service running for OLX KZ users. Yelena Kim, General Manager of OLX KZ, said joining Beeline Kazakhstan's ecosystem opens a new chapter for the classifieds platform.

## VEON's Digital Revenue Base

According to akta.pro [company records](https://akta.pro/company-data), VEON reported FY25 total revenue of $4,399 million, up 9.9% year on year, and Q1 2026 revenue of $1,201 million, up 17.0%. Direct digital revenues reached $759 million in FY25, up 62.5%, equal to 17.3% of total group revenues.

VEON's FY25 EBITDA was $2,009 million, up 18.8%, with the margin expanding 350 basis points to 45.7%. The same records list six funding rounds, the most recent a $1.4 billion post-IPO debt round in May 2026.

## VEON's Moves Before the Closing

In October 2026, Stock Titan reported that VEON's Banglalink launched a Starlink-powered satellite-to-mobile service in Bangladesh, the first South Asian country to offer it. In February 2026, VEON signed a memorandum of understanding with Hala, the Dubai RTA and Careem joint venture, to evaluate joint expansion of ride-hailing and mobility services across Pakistan, Kazakhstan and Bangladesh, using Uklon's Ukrainian operations as the platform template, according to akta.pro records.

Beeline Kazakhstan announced the agreement to acquire OLX KZ in October 2025.

## Companies in this story

- [VEON company profile](https://akta.pro/company-profiles/0000kd1/veon) · website: https://veon.com
- [OLX Group company profile](https://akta.pro/company-profiles/0000vkz/olx-group) · website: https://www.olxgroup.com
- [Beeline company profile](https://akta.pro/company-profiles/0007hcv/beeline) · website: https://beeline.kz

---
News for Agent · https://newsforagent.com/llms.txt