Lifecell and Volia are now owned by French billionaire Xavier Niel: what we know about him and the deal
10 September 2024 08:53
NJJ Holding (NJJ), an investment company wholly owned by French billionaire Xavier Niel, has announced the acquisition of Datagroup-Volia and Lifecell. The deal was completed after fulfilment of all conditions precedent from the Ukrainian state, including obtaining the necessary regulatory approvals, reports "Komersant Ukrainian" reports citing a statement from Horizon Capital.
“I am delighted to announce the completion of this landmark French investment in Ukraine’s telecoms sector, which we believe will bring significant and tangible benefits to customers, the market and the country as a whole. We are confident that our historic deal will send a signal to others that Ukraine offers attractive opportunities and the time to invest is now.”
– said Xavier Niel.
The combined Datagroup-Volia-Lifecell platform will be headed by current Datagroup CEO Mykhailo Shelemba.
The company announced USD 435 million in investments.
“The next important step for the combined platform is the signing of documents and the provision of a joint financial package of USD 435 million provided by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC),” the company said in a statement,
– the statement said.
At the same time, the future head of the new telecoms giant, Mykhailo Shelemba, limited his statement to generalities, not repeating his April statement that the deal would bring $1.5bn in investment to Ukraine.
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Seizure of Lifecell shares
on 6 October 2023, the Security Service of Ukraine (SBU) announced the seizure of all Ukrainian assets of Russian oligarchs Mikhail Fridman, Pyotr Aven and Andrey Kosogov. These were assets worth UAH 17 billion.
Among the seized assets, the largest, worth almost UAH 13 billion, was 100% of the charter capital of LifeSell LLC. As it turned out, Friedman, Aven and Kosogov, through LetterOne, own shares in the Turkish company Turkcell Iletisim Hizmetleri A.S., which owns Lifecell.
Lifecell confirmed the arrest, but noted that it did not affect the company’s operations, and that Friedman, Aven and Kosogov have no control or influence over Turkcell and Lifecell.
In 2023, Lifecell’s revenue grew by 24.4% to UAH 11.7 billion, with profit reaching UAH 2.5 billion against UAH 972.3 million a year earlier. The number of subscribers at the end of 2023 was 11.7 million.
What we know about NJJ Capital and Xavier Niel
NJJ Capital is an investment company founded in 2010 by French billionaire Xavier Niel, who is also the founder of the Iliad telecommunications group. NJJ Capital invests in various industries, including telecommunications, media and technology.
The businessman is also the owner of Le Monde newspaper. Niel’s net worth is estimated at $10.4 billion.
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