Cyberattack on Ukraines Kyivstar will cost parent Veon almost 100 million in sales

pn n n concatei18ntsearchvoicerecognitionretryn ppReuters Veon the parent company of Ukraines largest mobile operator Kyivstar will take a hit of around 36 billion hryvnias 95 million in revenue in 2024 due to a massive cyberattack in December the Dutch telecoms group estimated on ThursdayppThe estimated lost revenue is associated with measures Kyivstar has taken to compensate customers for inconveniences caused by the disruptions Veon saidppThe cyberattack was the largest since Russia launched its war on Ukraine in February 2022 knocking out services including mobile phone damaging IT infrastructure in several regions and putting people at risk of not receiving air raid alertsppVEON said it does not expect a material financial impact for its consolidated results for the year ended Dec 31 2023 and instead will push the costs to the current yearppKyivstar plans to continue its remediation and compensation efforts in the coming months The costs or loss of revenue of any other such remediation measures is uncertain and cannot be reasonably estimated at this time Veon said in a statementppThis story has been corrected to change the source to Veon instead of Kyivstar in the headline and paragraph 1ppReporting by Nathan Vifflin Editing by Andrew Heavens and Emelia SitholeMatariseppRelated Quotesp