"Beeline Kazakhstan" acquires "OLX Kazakhstan" for $75 million

International digital operator VEON Ltd. and OLX Group announced the conclusion of an agreement under which Beeline Kazakhstan will acquire 100% of the OLX Kazakhstan business. The deal amount will be $75 million.

OLX Kazakhstan is one of the largest online classifieds platforms in the country, with millions of ads for goods and services published monthly. The acquisition will allow Beeline to strengthen its position in the field of digital ecosystems and expand its services beyond telecommunications.

According to VEON's statement, the deal reflects the company's strategy to develop digital platforms covering FinTech, entertainment, advertising, and online services.

Source: Veon