Kyivstar acquires Comfy: what is known and why the operator needs a retailer
23 January 07:53
Mobile operator Kyivstar is in the final stages of negotiations to purchase a stake in the Comfy network. This was reported by "Komersant Ukrainian" with reference to Forbes.
According to the publication, the official announcement of the deal could take place in the coming days.
The potential partnership is seen as the next step in Kyivstar’s large-scale transformation into a multifunctional digital ecosystem. The operator has previously invested in the Helsi medical service and the Uklon platform, gradually building a business model with constant access to customers in various areas of everyday life.
What the deal structure might look like
Although there is no public decision from the Antimonopoly Committee of Ukraine yet, market insiders estimate the value of Comfy’s entire business at $300-350 million.
According to preliminary estimates, Kyivstar may receive about 50% of the company, which will allow it to consolidate the retailer’s financial performance in its own reporting.
At the same time, Comfy founder Stanislav Ronis is likely to retain his status as a controlling shareholder and continue to manage the business.
Why Comfy
Comfy enters the deal as the undisputed leader of the Ukrainian electronics market. In 2024, the chain’s revenue exceeded $1 billion for the first time, and at the end of the first three quarters of 2025, the company held approximately 24% of the market, significantly ahead of its competitors, Foxtrot and Allo.
Experts note that Kyivstar’s choice in favor of Comfy was pragmatic. The purchase of alternative players, in particular Rozetka, would have required several times more investment and much more complex integration.
Why does Kyivstar need electronics retail?
The key goal of the deal is to build its own ecosystem and launch a large-scale marketplace. Combining Kyivstar’s subscriber base (over 23 million users) with Comfy’s extensive offline and online infrastructure could create a powerful platform for selling technology, digital services, and financial products.
In this market, the combined structure will have to compete with players such as Rozetka, Epicenter, and market by mono.
What is known about Kyivstar
Kyivstar is the largest electronic communications operator in Ukraine. As of September 2024, the company served approximately 23.3 million mobile subscribers and over 1.1 million Home Internet users. The operator has been operating in the Ukrainian market for 27 years.
The company’s shareholder is the international group VEON, whose shares are listed on the Nasdaq stock exchange in New York. In 2024, Kyivstar’s revenue grew by 11% and reached UAH 37.27 billion.
The company had previously announced its intention to consider about ten potential M&A deals in the fields of alternative energy, digital infrastructure, fintech, and e-commerce.
