The Kyiv Court of Appeal lifted the seizure of the corporate rights of the UkrTower company, allowing the French billionaire Xavier Niel to complete the purchase of lifecell and UkrTower operators.
Telecom acquisition
Cancellation of seizure
Initially, the Kyiv Court of Appeal did not remove the seizure of 100% of the corporate rights of the tower operator UkrTower, owned by Turkish telecom giant Turkcell. However, later, on April 18, at a repeated meeting, the court overturned this decision. Earlier, on April 16, the court already canceled the seizure of 19.8% of the corporate rights of the mobile operator lifecell.
Pooling of assets
French investment fund NJJ owned by billionaire Xavier Niel plans to merge the purchased assets of lifecell and "Datagroup-Volya" into one company. The new combined structure will offer consumers a comprehensive package of telecommunication services: mobile communication, fixed Internet and TV.
Investments in Ukraine
The agreement on the purchase of "Datagroup-Volia" and lifecell provides for the involvement $1.5 billion of investments in the Ukrainian economy. Previously, the acquisition of lifecell was hindered by the fact that 19.8% of the operator's shares belonged to persons under US, EU, and Ukrainian sanctions. But after lifting the seizure of the corporate rights of the companies, the deal can be completed.
Glossary
- lifecell is the Ukrainian national mobile operator.
- UkrTower - a company that owns communication towers in Ukraine, belongs to Turkcell.
- Turkcell is a Turkish telecommunications holding company.
- NJJ is a French investment fund owned by Xavier Niel.
- "Datagroup-Volya" is a Ukrainian provider of telecommunications services.
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Answers to questions
What did the Kyiv Court of Appeal decide regarding the UkrTower company?
Why was lifecell's stake seized?
Which investment fund plans to buy the assets of lifecell and "Datagroup-Volya"?
What amount of investment is expected from the purchase agreement of "Datagroup-Volia" and lifecell?
What role did the Kyiv Court of Appeal play in this case?
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Discussion of the topic – UkrTower: The Court of Appeal canceled the seizure of the company sold to NJJ together with lifecell
The Kyiv Court of Appeal canceled the seizure of 100% of the corporate rights of the tower operator UkrTower, which belongs to the Turkish telecom holding Turkcell. Earlier, the court had already lifted the seizure of 19.8% of lifecell's corporate rights.
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Андрій
This situation with the seizure of UkrTower's corporate rights was really confusing. 🤔 Good thing the appellate court finally lifted the arrest, now the deal between NJJ and lifecell can be finalized.
Ірина
I wonder if this union of lifecell and "Datagroup-Volya" will have a positive effect on the quality of services? 🤔 I hope the competition will push them to improve.
Денис
Although the process was confusing, I am glad that justice was finally served. 💪 This shows that our legal system works, albeit slowly.
Ганна
I am interested in how this agreement will affect the prices of telecommunication services in Ukraine. 💭 I hope that the merger will not lead to a monopoly and higher prices for consumers.
Грумпі
All these deals and mergers are just marketing gimmicks to get money out of people. 😒 What could be better than the old proven methods?
Оксана
I think that $1.5 billion of investment in the Ukrainian telecommunications industry is great news! 💰 This can lead to the expansion of Internet coverage and speed in the regions.
Віктор
I wonder if this new combined company will offer good bundle deals for consumers. 🤔 Today, the triple package is quite popular.
Наталія
I welcome this deal as it can bring new technology and innovation to the industry. 💡 Competition always has a good effect on development.
Петро
I hope that there will be no mass layoffs after the merger. 😕 This is always a concern during deals like this.
Ірина
@Grumpy, I understand your concern, but progress is inevitable. 🙂 New technologies and innovations can bring many benefits to consumers if implemented correctly.
Денис
@Petro, unfortunately, in such cases, layoffs occur, as companies seek to optimize costs. But I hope they will be minimal.
Ганна
I wonder if the new combined company will offer more innovative services, such as the Internet of Things or cloud-based business solutions? 💻 This can be their competitive advantage.
Віктор
@Hannah, good question! I would also like to see more innovation in the telecommunications industry. Perhaps they will offer more solutions for the smart city or the Internet of Things. 🏙️
Оксана
I hope this agreement will help improve network coverage in rural areas. 🌲 Many people there still suffer from poor internet connection.
Наталія
I wonder if the new combined company will actively invest in the development of the 5G network in Ukraine. 📶 This can become their key advantage in the future.