VEON Ltd. and OLX Group have announced that Beeline Kazakhstan, VEON’s local subsidiary, has agreed to acquire the entire online classifieds business OLX Kazakhstan for $75 million.
OLX Kazakhstan is a digital marketplace in Kazakhstan, offering listings in areas such as goods, services, jobs, autos, and real estate. As of June 30, 2025, the platform had about 10 million monthly active users and 3.6 million listings. It was accessed by more than half of the country’s active internet users each month.
Christian Gisy, CEO of OLX Group, stated: “We’re proud of what our team in Kazakhstan has built with OLX KZ – a trusted, scaled marketplace serving millions of Kazakhs every day. This transaction aligns with our strategy to focus on core categories and key markets, while placing OLX KZ with an owner that brings deep local reach and a powerful digital ecosystem. We thank the team for their outstanding work and are confident Beeline Kazakhstan will drive the business’s next phase of growth.”
Kaan Terzioglu, CEO of VEON Group, commented: “Beeline Kazakhstan is a leader in digital innovation for consumers and enterprises, and the acquisition of OLX KZ represents a significant opportunity to further enhance the digital operator’s offering to customers. I am happy to welcome the OLX KZ team, who have successfully developed a consistently profitable, market-leading business in Kazakhstan, to the VEON family and look forward to the opportunities that this new digital vertical will create for the Group’s digital operator strategy.”
Evgeniy Nastradin, CEO of Beeline Kazakhstan, added: “I am excited about the potential synergies we see from integrating Kazakhstan’s leading online classifieds business into Beeline Kazakhstan’s digital services ecosystem. OLX KZ will make it possible for us to offer customers a more comprehensive and better-integrated set of digital services, while also reaching more users with one of the market-leading businesses.”
The completion of the acquisition is subject to regulatory approvals and standard closing conditions. During a transition period after the sale is finalized, OLX Group will provide IT-related support services to OLX KZ.
Beeline Kazakhstan currently serves around 11 million mobile customers and two million fixed internet customers. Since adopting its digital operator strategy in 2018, it has developed an ecosystem with about 60 products. The company is majority-owned by VEON.
VEON operates across five countries and serves nearly 160 million customers with connectivity and digital services. The company is listed on Nasdaq.
OLX Group operates online marketplaces globally and is part of Prosus, a technology company involved in ecommerce across Latin America, Europe, and India.
The announcement also included cautionary statements regarding forward-looking information related to the acquisition and its potential impacts.
