The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) of the World Bank Group (WB) will provide $435 million in financing for the merged Datagroup-Vola-Lifecell following the completion of the acquisition of Ukrainian assets by France’s NJJ.
“On the sidelines of the Ukraine Recovery Conference (URC2024) in Berlin, we reached strategic agreements with the EBRD and IFC to finance the projects of the combined Datagroup, Volia and Lifecell for up to $435 million,” Datagroup-Volia CEO Mykhailo Shelemba wrote on Facebook on Tuesday evening.
According to him, the funds will be allocated after the acquisition and merger of the companies is finalized. They will be used to support the convergence of fixed mobile communications (FMC), increase investments in the combined network, and purchase licenses and equipment needed to expand fixed and mobile infrastructure.
“I thank the EBRD and IFC for supporting Ukraine and Ukrainian business in this difficult time of war. And once again, I thank NJJ Holding and personally (its owner – IF-U) Xavier Niel for their faith in Ukrainians and our development potential,” Shelemba wrote.
He noted that the entry of a global Western strategic operator into the Ukrainian telecom market and the financing of the merged company by international structures should have a positive impact on Ukraine’s economy: it will accelerate future growth, increase resilience in difficult military conditions and help bridge the country’s digital divide.
Earlier it was reported that the AMCU at its meeting on March 7 allowed DVL Telecom, a subsidiary of NJJ, to acquire control over Datagroup Holding Limited (Datagroup-Volya). At the same time, the Committee announced that it had found grounds for prohibiting DVL Telecom’s acquisition of control over the Turkcell-controlled Lifecell Group and requested additional information in April. Turkcell expects the deal with NJJ to be closed by the end of 2024.
