<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001193125-24-035008</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Lingotto Investment Management LLP -->
          <cik>0001732768</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>American Depositary Shares, or ADSs, each representing twenty-five common shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001468091</issuerCik>
        <issuerName>VEON Ltd.</issuerName>
        <issuerCusip>91822M502</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>Index Tower (East Tower)</com:street1>
          <com:street2>Unit 1703</com:street2>
          <com:city>Dubai (DIFC)</com:city>
          <com:stateOrCountry>C0</com:stateOrCountry>
          <com:zipCode>Emirates</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Giovanni Agnelli B.V.</reportingPersonName>
      <citizenshipOrOrganization>P7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>151102350.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>151102350.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>151102350.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.74</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>Represented by 6,044,094 American Depositary Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Exor N.V.</reportingPersonName>
      <citizenshipOrOrganization>P7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>151102350.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>151102350.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>151102350.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.74</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>Represented by 6,044,094 American Depositary Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Lingotto Investment Management (UK) Limited</reportingPersonName>
      <citizenshipOrOrganization>X0</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>151102350.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>151102350.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>151102350.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.74</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
      <comments>Represented by 6,044,094 American Depositary Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Lingotto Investment Management LLP</reportingPersonName>
      <citizenshipOrOrganization>X0</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>151102350.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>151102350.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>151102350.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.74</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
      <comments>Represented by 6,044,094 American Depositary Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>VEON Ltd.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>Unit 1703, Level 17, Index Tower, Dubai, United Arab Emirates</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Giovanni Agnelli B.V.
Exor N.V.
Lingotto Investment Management (UK) Limited
Lingotto Investment Management LLP

Lingotto Investment Management LLP, which acquired the securities being reported on, is 99.7% owned by Lingotto Investment Management (UK) Limited. Lingotto Investment Management (UK) Limited is a wholly owned subsidiary of Exor N.V., which in turn is controlled by Giovanni Agnelli B.V.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Giovanni Agnelli B.V.
Symphony Building
Gustav Mahlerplein 25
Amsterdam, 1082 MS
The Netherlands

Exor N.V.
Symphony Building
Gustav Mahlerplein 25
Amsterdam, 1082 MS
The Netherlands

Lingotto Investment Management (UK) Limited
7 Seymour Street
London, W1H 7JW
United Kingdom

Lingotto Investment Management LLP
7 Seymour Street
London, W1H 7JW
United Kingdom</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Giovanni Agnelli B.V. - the Netherlands
Exor N.V. - the Netherlands
Lingotto Investment Management (UK) Limited- United Kingdom
Lingotto Investment Management LLP - United Kingdom</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See the responses to Item 9 on the attached cover pages.</amountBeneficiallyOwned>
        <classPercent>See the responses to Item 11 on the attached cover pages.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See the responses to Item 5 on the attached cover pages.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See the responses to Item 6 on the attached cover pages.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See the responses to Item 7 on the attached cover pages.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See the responses to Item 8 on the attached cover pages.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>See Item 2</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <exhibitInfo>Percent of class based on 1,728,844,934 common shares* outstanding at Sept 30, 2025 as reported in the Issuer's Form 6-K filed with the Securities and Exchange Commission on August 22, 2025.

This Amendment No. 3 to Schedule 13G is being filed by Lingotto Investment Management LLP as an amendment to the Schedule 13G previously filed by Exor N.V. (CIK: 0001589122) on March 14, 2022 pursuant to the Joint Filing Agreement filed as Exhibit 99.1 thereto, and as subsequently amended on Feb 14, 2023 and Feb 14, 2024.</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Giovanni Agnelli B.V.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Guido de Boer</signature>
        <title>Guido de Boer | Authorized Signatory</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Exor N.V.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Guido de Boer</signature>
        <title>Guido de Boer | Chief Financial Officer</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Lingotto Investment Management (UK) Limited</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Enrico Vellano</signature>
        <title>Enrico Vellano | CEO</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Lingotto Investment Management LLP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Enrico Vellano</signature>
        <title>Enrico Vellano | CEO</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
