Xavier Niel’s NJJ Holding has been given regulatory approval to acquire Ukrainian fixed telecom and pay-TV provider Datagroup-Volia.
Datagroup-Volia is 96.13% owned by a fund managed by U.S. private equity firm Horizon Capital, led by Lenna Koszarny, and 3.87% by Datagroup-Volia CEO Mykhaylo Shelemba.
Once the transaction has closed and regulatory approval received, NJJ intends to merge Datagroup-Volia with Lifecell, the country’s third largest mobile operator.
“Ukraine is home to an impressive tech sector with innovation in artificial intelligence, a high degree of digitalization and technological affinity. We are confident that our landmark transaction will serve as a signal to others that the time to invest in Ukraine is now, to support the rebuilding of the country and realize its potential,” Xavier Niel, Founder of NJJ Holding.
The group then plans to launch a significant investment with investments in network, licenses, equipment and expansion of fixed and mobile infrastructure in Ukraine to accelerate future growth.
It will be able to draw on the resources of the European telco group iliad, headquartered in France, and with operations in Poland, Italy, Sweden and the Batics.
Post-closing, a fund managed by Horizon Capital and Mykhaylo Shelemba will invest in the combined entity to retain a minority position and be the local partner of NJJ in Ukraine.
