French Billionaire Buys Ukrainian Mobile Operator Lifecell
Date: 2024-09-10 Author: Michail Kovalenko Categories: ECONOMY
Lifecell is the third-largest mobile operator in Ukraine after Kyivstar and Vodafone. The operator will merge with Datagroup-Volia, a company that provides fixed-line and pay-TV services.
Lifecell was wholly owned by Turkcell. In April, a Kiev court cleared the way for the acquisition by lifting the arrest on Lifecell shares owned by sanctioned Russian billionaire Mikhail Fridman, who owned about 20% of the shares through LetterOne.
The deal is worth at least $524.3 million, Turkcell said. The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation will provide $435 million in loans.
Future integration will allow the platform to offer a service that combines mobile communications, fixed communications and pay TV. The new platform is expected to attract about 10 million mobile users and more than 4 million people connected via a fixed access network.
Recall that at the end of 2023, the Turkish company Turkcell announced the sale of the Ukrainian mobile operator Lifecell to the French investment company NJJ Capital, owned by billionaire Xavier Niel. It was noted that the sale agreement was signed on December 29, 2023.
Lifecell was wholly owned by Turkcell. In April, a Kiev court cleared the way for the acquisition by lifting the arrest on Lifecell shares owned by sanctioned Russian billionaire Mikhail Fridman, who owned about 20% of the shares through LetterOne.
The deal is worth at least $524.3 million, Turkcell said. The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation will provide $435 million in loans.
Future integration will allow the platform to offer a service that combines mobile communications, fixed communications and pay TV. The new platform is expected to attract about 10 million mobile users and more than 4 million people connected via a fixed access network.
Recall that at the end of 2023, the Turkish company Turkcell announced the sale of the Ukrainian mobile operator Lifecell to the French investment company NJJ Capital, owned by billionaire Xavier Niel. It was noted that the sale agreement was signed on December 29, 2023.
