Reuters logo
Veon cuts 2017 guidance on Uzbek currency devaluation
September 15, 2017 / 5:41 AM / 2 months ago

Veon cuts 2017 guidance on Uzbek currency devaluation

Sept 15 (Reuters) - Dutch telecommunications company Veon Ltd said on Friday it was lowering its guidance for 2017 as a result of the liberalisation of currency exchange rules in Uzbekistan.

The Uzbek official exchange rate has been reset at 8,100 Uzbek som per U.S. dollar, a devaluation of approximately 92 percent.

The company said it now expects underlying equity free cash flow (before license spectrum fees) of between $850 and $950 million in 2017. It had previously targeted between $900 million and $1 billion.

Veon confirmed its guidance for low-single-digit organic revenue growth 1n 2017. (Reporting by Alan Charlish; Editing by Sunil Nair)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below