Is VEON a Telecom Stock Worth Buying for the Second Half of 2021?

Is VEON a Telecom Stock Worth Buying for the Second Half of 2021?

Stock MarketsJust Now (Jul 22, 2021 09:30AM ET)

(C) Reuters. Is VEON a Telecom Stock Worth Buying for the Second Half of 2021?

Netherlands-based telecommunications company VEON Ltd. (NASDAQ:VEON) has been expanding its product and services portfolio across its key markets. It is also taking several loans to sustain its growth activities, thus increasing its debt. So, is it wise to bet on the stock now? Let’s find out.Headquartered in Amsterdam, the Netherlands, mobile and fixed-line telecommunications services provider VEON Ltd. (VEON) serves roughly 212 million customers across nine countries, including Russia, Pakistan, Bangladesh, and Ukraine. Over the past month, its stock price has advanced 4.2% to close yesterday’s trading session at $1.74, driven primarily by investors’ optimism about its several strategic acquisitions and expanding portfolio of products and services.

The stock has retreated 1.7% over the past six months and 41.6% over the past three years, however. In addition, earlier this month, VEON announced that it had exercised its put option to sell the entirety of its 45.57% stake in its Algerian subsidiary, Omnium Telecom Algerie SpA, to the Algerian National Investment Fund, Fonds National d’Investissement (FNI).

Furthermore, the company continues to be impacted by the exposure to currency exchange rate volatility and specific country risks because it is focused on emerging markets. So, its near-term prospects look uncertain.

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Is VEON a Telecom Stock Worth Buying for the Second Half of 2021?

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