Iliad founder Xavier Neil laid out ambitions to create a “telecom champion” in Ukraine after his investment company NJJ Holding gained regulatory approval to acquire a fixed-line company that will merge with MNO Lifecell.
In a statement, Niel said the approval was a “significant step” towards his high ambitions. The company was given the nod to buy fixed and pay-TV provider Datagroup-Voila. It is also in the process to buy Lifecell from Turkcell, and once the deal is completed the companies will be merged to create a business with almost 10 million mobile subscribers and 4 million homes connected to its fixed network.
NJJ’s strategy in the Ukrainian market will involve offering a triple-play offer bundling mobile, fixed connectivity and pay-TV.
NJJ is buying Datagroup-Voila from a fund managed by US-based private equity firm Horizon Capital.
Niel said the new business will aim to provide “Ukrainians with safe, secure and reliable telecom services”, to support its tech sector with innovation in AI and highlighted its “ high degree of digitalisation 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 realise its potential," said Niel.
NJJ struck a deal with Turkcell to acquire its units in Ukraine this year, but the deal is facing regulatory hurdles which Turkcell appealed against.
