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INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2026
Intangible assets and goodwill [abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS Th e following table summarizes the movement in the net book value of intangible assets, including goodwill for the six-month period ended June 30:
|  | 2026 | 2025
Balance as of January 1 |  | 1,549 | 1,510
Acquisition * |  | 199 | 167
Additions ** |  | 293 | 58
Divestment and reclassification to held for sale |  | — | (58)
Amortization |  | (125) | (114)
Currency translation |  | (24) | (15)
Transfers |  | (8) | 10
Balance as of June 30 * |  | 1,884 | 1,558
* Certain prior period comparatives have been updated to adjust for the measurement period adjustment, refer Note 5- Significant Transaction for further details. ** Includes 5G Spectrum license in Pakistan for approximately US$209, refer Note1 - General Information for further details. Goodwill Goodwill is i ncluded within the above total intangible asset movements for the six-month period ended June 30, 2026. The significant additions during the period were relating to the acquisitions as explained in Note 5 - significant transactions. Goodwill arising from the acquisitions is allocated to the respective Cash Generating Unit "CGU" which are then grouped at VEON's country-level. These groups represent the lowest level within VEON at which goodwill is monitored for internal management purposes and are not larger than the Group's operating segments. Impairment losses in 2026 The Company performed annual impairment testing of goodwill and for non-goodwill CGUs also tested assets for impairment as of September 30, 2025 and subsequently assessed for indicators of impairment or reversal of impairment as of June 30, 2026. The Bangladesh CGU is a non-goodwill CGU and therefore not subject to mandatory annual impairment testing. However, this CGU is also continuously monitored. Based on the assessment performed, we concluded that no goodwill and intangible asset impairment was identified for any CGU. Impairment losses in 2025 The Company performed annual impairment testing of goodwill and for non-goodwill CGUs also tested assets for impairment as of September 30, 2024 and subsequently assessed for indicators of impairment or reversal of impairment as of June 30, 2025. The Bangladesh CGU is a non-goodwill CGU and therefore not subject to mandatory annual impairment testing. However, the CGU has limited headroom and is continuously monitored. We therefore performed valuation sensitivity tests to assess if a further impairment or reversal of impairment was required. Based on the assessment performed, we concluded that no goodwill and intangible asset impairment nor reversal was identified for CGU Bangladesh or any CGU.

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- Definition The entire disclosure for intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 38 -IssueDate 2025-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=38&code=ifrs-tx-2025-en-r&doctype=Standard&dita_xref=IAS38_g118-128_TI -URIDate 2025-03-27 + Details
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