The Antimonopoly Committee returned the application for the acquisition of lifecell

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The Antimonopoly Committee of Ukraine (AMC) has returned to the French company NJJ Capital an application for the acquisition of mobile operator lifecell and cell tower operator Ukrtower. This was reported by Forbes.

On December 29, 2023, the AMC received an application for permission from NJJ Capital to indirectly acquire more than 50% of the authorized capital of Lifecell LLC and Ukrtower LLC. On January 12, 2024, the AMC returned NJJ Capital’s applications for the acquisition of shares in Lifecell LLC and Ukrtower LLC due to non-compliance of the documents with the AMC’s requirements.

“The materials attached to the applications did not contain comprehensive information necessary for their consideration by the committee,” the AMC said.

Turkcell sells lifecell

On December 29, 2023, the Turkish telecommunications company Turkcell announced its intention to sell lifecell, the Global Bilgi call center network, and the Ukrtower mobile tower operator to French billionaire Xavier Niel’s NJJ Capital.

Xavier Niel is the founder and majority shareholder of France’s third largest mobile operator, Iliad (operating under the Free brand). Niel is also a co-owner of Le Monde newspaper, the owner of Monaco Telecom, the largest telecom provider in Monaco, Swiss telecom provider Salt Mobile, and Irish telecom company Eir.

Litigation

On October 7, the SBU reported that a court had seized all corporate rights in Ukraine belonging to sanctioned Russian businessmen Fridman, Aven and Kosogov. Later, it turned out that among the assets seized by the court, in addition to Kyivstar, there was another mobile operator, lifecell.

The court seized 100% of Paycell LLC, which belongs to the mobile operator and is used to replenish lifecell subscriber accounts. The corporate rights of Ukrtower LLC were also seized.

On October 13, the Shevchenkivskyi District Court of Kyiv amended its October 4 ruling to seize all shares in Kyivstar and Lifecell mobile operators. The court ruled that the seizure of corporate rights in the form of 19.8% of the authorized capital of Lifecell LLC and 47.85% of the authorized capital of Kyivstar should be considered correct. In other respects, the court decision remained unchanged.

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