Russian oligarch Fridman will not receive any proceeds from the sale of mobile operator lifecell
Pravda Ukraine
Sanctioned Russian oligarch Mikhail Fridman will not receive a penny from the sale of the lifecell mobile operator to the investment company NJJ. The transaction documents concluded between Turkcell and the French investor directly prohibit this.
Source: Interfax Ukraine, citing CEO of Datagroup-Volia Mykhailo Shelemba
Quote: “As a result of the deal with NJJ, not a penny from the sale of Turkcell assets in Ukraine will be transferred to sanctioned individuals or companies under their control,” Shelemba explained.
He added that all parties to this agreement, both buyers and sellers, are legally obliged to strictly adhere to international and Ukrainian legislation, including the current sanctions of the National Security and Defence Council.
Shelemba said that the proceeds from the sale of assets in Ukraine will most likely be directed towards financing capital expenditures in Turkcell’s main market in Türkiye, including the repayment of debt obligations.
Background:
- The deal with French billionaire Xavier Niel’s purchase of the fixed internet provider Datagroup-Volia and the operator lifecell will bring US$1.5 billion in investments to the country.
- Lifecell will challenge the court’s decision to freeze Fridman’s stake (19% of shares) in the company.
- NJJ Holding, owned by French billionaire Xavier Niel, plans to merge Datagroup-Volia and Lifecell, both of which are set for purchase, into one company.
- On 7 March, the Antimonopoly Committee of Ukraine (ACU) granted permission to DVL Telecom, owned by French billionaire Xavier Niel, to acquire the Ukrainian national fixed-line communication operator and digital service provider Datagroup-Volia.
- Reportedly, NJJ Capital, which previously announced the purchase of Turkcell subsidiaries in Ukraine – LLC Lifecell, is acquiring the assets of the national fixed-line communication operator and digital service provider Datagroup-Volia.
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