Prosus is selling another OLX site as it continues its core focus on Europe. The marketplaces giant has agreed to sell horizontal OLX.kz in Kazakhstan to telecoms company Veon Group in a $75 million deal.
OLX.kz is the No. 2 classifieds business in the country by overall traffic, with 9.2 million total monthly visits as of September, according to Similarweb. However, it’s likely No. 1 in general goods. Local fintech and e-commerce giant Kaspi holds the No. 1 position in the classifieds market due to its strong automotive and real estate verticals.
Veon Group is based in Dubai and primarily operates across CIS markets. It’s listed on the Nasdaq under the ticker (VEON). It owns locally popular mobile services brand Beeline. The acquisition is in line with the company’s goal of expanding its digital portfolio across the region.
“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,” said Kaan Terzioglu, Veon Group CEO. “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.”
“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,” said Evgeniy Nastradin, CEO of Beeline Kazakhstan.
“We’re proud of what our team in Kazakhstan has built with OLX KZ — a trusted, scaled marketplace serving millions of Kazakhs every day,” commented Christian Gisy, CEO of Prosus-owned OLX Group. “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.”
Beeline Kazakhstan’s acquisition of OLX.kz is subject to regulatory approvals and customary closing conditions. OLX Group will provide certain IT-related support services to OLX.kz over a transitional period. The transaction is expected to close by the first quarter of 2026.
Beeline Kazakhstan serves 11 million local customers with mobile connectivity and 2 million with fixed internet services. Over the past five years, leveraging its expertise in digital solution development, Beeline has created an ecosystem of 60 internal and external products. Originally a Russia-based business, Veon serves nearly 160 million customers across five markets in Europe and Asia after exiting Russia in 2023.
