2024-01-29T18:08:00+02:00 Economy 2024-09-15T04:45:23+03:00

Ukrainian news

French billionaire Niel buying lifecell for USD 500 million

French billionaire Niel buying lifecell for USD 500 million

French billionaire Xavier Niel said that his investment company NJJ Capital has agreed to pay USD 500 million for the Ukrainian divisions of Turkcell, in particular for the lifecell mobile operator (formerly Astelit).

It follows from a publication by Bloomberg, Ukrainian News Agency reports.

Niel already carries out telecommunications operations in neighboring Poland through Iliad.

A large amount of roaming traffic between the countries means the deal "makes sense," Neel said.

He added that the price was "cheap" compared to the profits of the Ukrainian operator lifecell.

It is noted that the agreement, which was originally announced in December without indicating the cost, will give NJJ Capital control over lifecell LLC, Global Bilgi LLC and Ukrtower LLC.

Niel said that the deal awaits regulatory checks, including obtaining permission from the Ukrainian Antimonopoly Committee.

As Ukrainian News Agency earlier reported, lifecell states that sanctioned russian oligarchs Mikhail Fridman, Petr Aven and Andrei Kosogov have no control or influence over the company and its owner, Turkcell (Turkey).

The court arrested 100% of Kyivstar PrJSC shares and 19.8% of the authorized capital of the lifecell mobile operator.

In the first nine months of 2023, the lifecell mobile operator increased its Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 26%, or UAH 1,028 million, to UAH 4.969 billion year over year.

At the same time, for the specified period, revenues increased by 26% or UAH 1,767 million to UAH 8.872 billion.

In January-September 2023, the company increased its net profit three times or by UAH 1,119 million to UAH 1.683 million.

Lifecell is one of the three largest Ukrainian mobile operators under the lifecell trademark.