Key Highlights:
AMCU Approval: On July 25, 2024, the AMCU granted permission for DVL Telecom, a subsidiary of NJJ Capital owned by Xavier Niel, to acquire control over Lifecell LLC, Global Bilgi LLC, and Ukrtower LLC.
Deal Value: The acquisition is valued at over $500 million, making it one of the largest deals in Ukraine's telecommunications market in recent years.
Non-Competition Clause: The AMCU also permitted concerted actions to refrain from competition between the parties for a period of two years.
Post-Deal Plans: After the acquisition, Lifecell, the third largest mobile operator in Ukraine, will merge with Datagrup-Volia. The new DVL group will have the following ownership structure:
- Xavier Niel: 85%
- Horizon Capital: 10%
- Mykhailo Shelemba, CEO of Datagrup-Volia: 5%
Conclusion
The AMCU's approval of DVL Telecom's acquisition of Lifecell marks a significant consolidation in Ukraine's telecommunications market. This strategic move, led by French billionaire Xavier Niel, underscores the growing interest and investment in Ukraine's telecom sector.
