Company: KYIV
Filing Date: 2025-06-05
Form Type: 425
Source: 0001213900-25-051648
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Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: 425
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Filed by Kyivstar Group Ltd.

pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Companies:

Kyivstar Group Ltd.

Cohen Circle Acquisition Corp. I (Commission File No.: 001-42369)

Date: June 5, 2025

<div align='center'>Kyivstar Group Reports First Quarter 2025 Financial Results in Conjunction with its Nasdaq Listing Process</div>

| ● | Total operating revenue reaches USD 255 million or UAH 10.6 billion, up 37.1% year-on-year in USD and 
 49.6% in local currency terms                                                                         |

| ● | Profit for the period amounts to USD 44 million, up 22.2% year-on-year in USD and 33.7% in local currency terms, with a profit 
 margin of 17.3%                                                                                                                |

| ● | Adjusted EBITDA1 reaches USD 140 million, up 50.5% year-on-year in USD and 64.6% in local currency terms, with an adjusted 
 EBITDA margin1 of 54.9%                                                                                                    |

| ● | Completes acquisition of Uklon, Ukraine’s leading ride-hailing business, and increases stake 
 in Ukraine’s leading digital health platform Helsi, subsequent to quarter-end                |

KYIV, Ukraine, June 5, 2025 – Kyivstar
Group, Ukraine’s leading digital operator (“Kyivstar Group” or “the Company”) and a subsidiary of VEON Ltd.
(Nasdaq: VEON) (“VEON Group” or “VEON”), today announced its unaudited financial and operating results for the
first quarter ended March 31, 2025.

|                       |     | 1Q25         |     |     | 1Q24 |     |     | YoY |      |   |     | 1Q25         |      |     | 1Q24 |     |     | YoY |      |   |
|                       |     | USD mln or % |     |     |      |     |     |     |      |   |     | UAH bln or % |      |     |      |     |     |     |      |   |
| Total                 
 operating revenue     |     |              | 255 |     |