In a landmark move for Central Asia’s digital economy, VEON Ltd. (Nasdaq: VEON) announced that its subsidiary Beeline Kazakhstan has reached an agreement to acquire 100% of OLX Kazakhstan (OLX KZ) from OLX Group for a total consideration of USD 75 million.
The acquisition marks one of Kazakhstan’s largest digital transactions and signals VEON’s strategic ambition to expand its ecosystem of digital services in the region.
A marketplace that reaches half the country
Founded as a digital marketplace connecting millions of Kazakh buyers and sellers, OLX KZ is among the country’s most widely used online platforms.
As of June 2025, it had:
- 10 million monthly active users,
- 3.6 million active listings,
- and was visited by more than 52% of Kazakhstan’s active internet users.
Through categories spanning goods and services, jobs, real estate, and autos, OLX KZ has become a household name in Kazakhstan’s e-commerce ecosystem.
Strategic fit
According to Kaan Terzioglu, CEO of VEON Group:
“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 built a consistently profitable, market-leading business, to the VEON family.”
Evgeniy Nastradin, CEO of Beeline Kazakhstan, added:
“Integrating Kazakhstan’s leading online classifieds business into Beeline’s digital ecosystem will allow us to deliver a more comprehensive and better-integrated range of digital services while expanding our user base through one of the country’s most trusted brands.”
From classifieds to superapps
The acquisition aligns with VEON’s “digital operator” strategy, launched in 2018, which focuses on building ecosystems beyond telecom — including finance, media, education, and e-commerce.
Beeline Kazakhstan already serves 11 million mobile customers and 2 million fixed-internet users, managing an ecosystem of 60 digital products developed internally and with external partners.
By bringing OLX KZ under its umbrella, Beeline gains a strong foothold in consumer commerce, strengthening its position as one of Central Asia’s most diversified digital players.
OLX Group refocuses its global strategy
For OLX Group, owned by Prosus, the deal fits its broader focus on core markets and categories.
Christian Gisy, CEO of OLX Group, commented:
“We’re proud of what our team in Kazakhstan has built with OLX KZ — a trusted, scaled marketplace serving millions every day. This transaction aligns with our strategy to focus on key markets while placing OLX KZ with an owner that brings deep local reach and a powerful digital ecosystem.”
Under the agreement, OLX Group will continue to provide IT support services during a transitional period to ensure a smooth handover. The acquisition is subject to regulatory approvals and customary closing conditions.
Once completed, it is expected to set a precedent for the next wave of digital M&A activity in the region — particularly in the emerging “superapp” race among major telecom and fintech operators.
Industry observers note that this move positions VEON to compete not only on connectivity but on integrated digital lifestyle services, mirroring trends seen in Southeast Asia and Eastern Europe.Beeline Kazakhstan
A leading digital operator serving 11 million mobile and 2 million fixed internet users. Since 2018, Beeline has built a portfolio of 60 digital products and services. The company is majority-owned by VEON Ltd.
VEON Ltd.
A global digital operator providing connectivity and digital services to nearly 160 million customers across five countries. VEON is listed on Nasdaq and operates in markets representing over 6% of the world’s population.
More: www.veon.com
OLX Group
The classifieds arm of Prosus, OLX operates online marketplaces connecting millions of buyers and sellers worldwide. Its platforms are used across Latin America, Europe, and India.
The Beeline–OLX KZ deal is more than a corporate acquisition — it is a signal of Central Asia’s digital maturity.
As telecom companies evolve into full-fledged digital operators, Kazakhstan is emerging as a testbed for the region’s next-generation superapp ecosystem, where connectivity, commerce, and content converge.
