EX-8 5 exhibit8significantsubsidi.htm EX-8

Exhibit 8

Subsidiaries

    The table below sets forth our significant subsidiaries as of December 31, 2024. The equity interests presented reflect our direct and indirect ownership interest. Our percentage ownership interest is identical to our voting power for each of the subsidiaries listed below.

Name of significant subsidiary			Country of incorporation			Nature of subsidiary			Percentage of ownership interest
VEON Amsterdam B.V.			Netherlands			Holding			100.0		%
VEON Holdings B.V.**			Netherlands			Holding			100.0		%
JSC “Kyivstar” *			Ukraine			Operating			100.0		%
LLP “KaR-Tel”			Kazakhstan			Operating			75.0		%
LLC “Unitel”			Uzbekistan			Operating			100.0		%
VEON Finance Ireland Designated Activity Company			Ireland			Holding			100.0		%
LLC “Sky Mobile” ***			Kyrgyzstan			Operating			50.1		%
VEON Luxembourg Holdings S.à r.l.			Luxembourg			Holding			100.0		%
VEON Luxembourg Finance Holdings S.à r.l.			Luxembourg			Holding			100.0		%
VEON Luxembourg Finance S.A.			Luxembourg			Holding			100.0		%
Global Telecom Holding S.A.E			Egypt			Holding			99.6		%
Pakistan Mobile Communications Limited			Pakistan			Operating			100.0		%
Banglalink Digital Communications Limited			Bangladesh			Operating			100.0		%
VEON Group Holding Company Limited			Dubai			Branch			100.0		%

*LLC “Sky Mobile” was classified as held-for-sale as of December 31, 2024. For discussion of our Kyrgyzstan operations interests as a held for sale see Note 11—Held for Sale and Discontinued Operations of the Audited Consolidated Financial Statements.    

** On April 8, 2025, we completed a partial Dutch statutory demerger of VEON Holdings B.V. (“VEON Holdings”) pursuant article 2:334a paragraph 3 of the Dutch Civil Code, as a result of which VEON Holdings’s previously-held interests in its subsidiaries (along with other assets, liabilities and contracts) were allocated among VEON Holdings and two newly-incorporated entities, VEON MidCo B.V. and VEON Intermediate Holdings B.V. Effective April 8, 2025: (i) VEON Holdings’s only subsidiary is JSC Kyivstar; (ii) VEON MidCo B.V. holds the interests in VEON’s operating subsidiaries and other key assets; and (iii) VEON Intermediate Holdings holds the interests in VEON’s non-core assets and subsidiaries.