The seizure of corporate rights of the sanctioned entities does not affect lifecell’s operations, the operator continues to operate as usual. This was reported by the operator’s press service.
lifecell is a wholly owned subsidiary of Turkcell, one of Turkey’s largest telecommunications and technology services companies. 54% of Turkcell shares are publicly traded on the Istanbul and New York Stock Exchanges. The Welfare Fund of the Republic of Turkey (TWF) owns 26.2% of Turkcell, which gives it the right to appoint the majority of the board of directors and nominate the chairman of the board.
The remaining 19.8% of Turkcell’s shares are held by IMTIS Holdings S.à.r.l., a company that is in turn wholly owned by International Mobile Telecom Investment Stichting Administratiekantoor (a Dutch fund), with no board seats and no privileges, control or influence over Turkcell or lifecell.
Therefore, Mikhail Fridman, Peter Aven and Andrei Kosogov do not have any control or influence over Turkcell and lifecell. In addition, both companies strictly adhere to the established compliance and internal control mechanisms imposed by the authorities of the United States, the United Kingdom, the EU and Ukraine.
lifecell continues to operate and provide quality services to millions of subscribers in Ukraine and abroad. The lifecell team is doing everything possible to ensure the stable operation of the network, realizing how important communication is for people during the war. The operator is not only restoring the infrastructure destroyed and damaged as a result of the hostilities, but also continues to build coverage in Ukraine. Since February 2022, lifecell has launched more than 800 new base stations to keep Ukrainians connected.
To accelerate the restoration of Ukraine’s digital and telecom infrastructure, lifecell donated UAH 40 million to the UNITED24 fund. The company also collected and donated equipment worth over UAH 39 million to the Armed Forces of Ukraine. lifecell continues to invest billions of hryvnias in Ukraine’s economy every year.
