AMCU gives the go-ahead: billionaire Xavier Niel may buy lifecell for $525 mln

In December of last year, it was revealed that the French investment firm NJJ Capital is acquiring the Ukrainian mobile operator lifecell from the Turkish company Turkcell. Along with the operator, the French also took over the call centers of Global Bilgi LLC and the mobile tower holder Ukrtower LLC. However, in January, the Antimonopoly Committee (AMCU) returned NJJ Capital's application, headed by billionaire Xavier Niel.

Subsequently, in March, the AMCU also rejected a second application for the purchase of lifecell. It was only now that all related issues and documentation have been resolved, leading to the AMCU's approval on July 25 for the purchase of the Ukrainian operator lifecell by the French company DVL Telecom. Xavier Niel is willing to acquire the operator for $525 million.

It is noteworthy that, although a different company is now the buyer, it is essentially the same entity. DVL Telecom is a subsidiary of the French investment company NJJ Capital, owned by billionaire Xavier Niel. DVL is an abbreviation formed from the names of companies Datagroup, Volia, and lifecell, which will merge into one entity after the deal is completed.

The transaction, valued at $525 million, could potentially become the largest in a decade, alongside the acquisition of the fixed internet provider Datagroup-Volia. The amount involved in purchasing Datagroup-Volia may be around $120 million.

Source: forbes