Mobile operator Kyivstar wants to buy the online taxi service Uklon. The mobile operator received applications for the acquisition of Ukrainian LLC Tech Uklon, Uklon Corporation, Uklon Ukraine and Cyprus-based UKLON LTD in December 2024, the committee said at the request of Forbes Ukraine.
“The AMCU has received an application for Kyivstar’s permission to acquire control (through Uklon Corporation LLC) over Uklon Ukraine’s assets, which ensure the implementation of activities in ridesharing, delivery and online advertising,” the publication quoted the agency’s response on Friday.
It is noted that the above applications are under consideration by the AMCU.
In December 2024, Uklon co-founder and board member Serhiy Smus noted on Business Breakfast with Volodymyr Fedorin that during its existence, Uklon had received many purchase offers, but none of them were interesting. “If someone makes a good offer, we will consider it,” he said.
The publication informs that, taking into account the military discount, Smus estimated the company at 7-8x EBITDA. Meanwhile, the estimate of the analytical department of Forbes Ukraine suggests that the current price of the company may be $40-80 million.
Kyivstar CEO Oleksandr Komarov told Interfax-Ukraine on January 23 that he confirms plans to invest almost $600 million more in Ukraine by 2027 and is taking steps to expand the business inorganically. According to him, Kyivstar has made a purchase of a small fixed-line operator in 2024.
“We are looking at other goals, including those within the digital ecosystem,” said the CEO of the leading Ukrainian mobile operator.
According to Monobank’s dashboard, its customers spend about 5% of their money on taxis, while Uklon’s share is about 46%.
According to YouControl, Uklon finished the first three quarters of 2024 with revenue of UAH 1.2 billion, which is twice as much as in the same period of 2023.
“Kyivstar, Ukraine’s largest telecommunications operator, and its parent company VEON have confirmed their intention to invest a total of $1 billion in the country between 2023 and 2027, First Vice Prime Minister and Minister of Economy Yulia Svyrydenko said following a meeting on the sidelines of the World Economic Forum (WEF) with VEON CEO and founder Augie Fabella.
“No less important is the potential listing of Kyivstar on Nasdaq, which will open Ukraine’s access to global capital markets. In addition, global technology partnerships with companies such as Starlink will support sustainable growth,” Svyrydenko said in a post on X.
Kyivstar CEO Oleksandr Komarov, who took part in the meeting, toldInterfax-Ukraine on the sidelines of the Davos Ukrainian Breakfast organized by the Pinchuk Foundation that the company has already invested more than $400 million of the $1 billion in investments it had declared.
“We are planning to continue, nothing has changed,” Komarov emphasized, speaking about increasing these investments to $1 billion.
The CEO noted that the first priority is to invest in critical infrastructure, network, and new technologies. According to him, Kyivstar is on track to meet its 2024 target, and the results achieved, in particular in terms of increasing data transfer speeds, are encouraging.
Komarov added that the company is also taking steps towards possible inorganic business expansion. According to him, Kyivstar has made a purchase of a small fixed-line operator in 2024.
“We are looking at other goals, including those within the digital ecosystem,” the CEO said.
He also said that an important task for the Ukrainian government is to attract domestic and foreign investors and unite with business to improve the investment climate and business opportunities.
“Kyivstar – as of September 2024, Kyivstar served about 23.3 million mobile subscribers and more than 1.1 million home Internet subscribers in Ukraine. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc.
In mid-January this year, VEON announced the signing of a protocol of intent to place a part of Kyivstar shares on the Nasdaq stock exchange through the SPAC company Cohen Circle Acquisition Corp (CCIRU).
On Friday, Forbes Ukraine reported that Kyivstar had filed an application with the Antimonopoly Committee late last year to buy Uklon, a digital taxi service.
Kyivstar, the largest mobile operator in Ukraine, has signed an agreement with Starlink, a SpaceX company, to introduce Direct to Cell technology in Ukraine, which provides smartphone connectivity in areas where traditional mobile network coverage is not available – via satellite.
“We have signed an agreement with Starlink and are starting to implement the revolutionary Direct to Cell satellite communication in Ukraine… the service is able to provide mobile communication on any 4G smartphone using a satellite signal where there is no traditional coverage from operators, or if the ground network is down due to military and man-made factors,” CEO Alexander Komarov wrote in a Facebook post on Monday.
“Kyivstar plans to launch Starlink Direct to Cell services with SMS and OTT messaging in the fourth quarter of 2025. The next stage will be voice and data communications, the company said.
This is a major investment by Kyivstar in the development of digital infrastructure, improving coverage, providing uninterrupted communication to all Ukrainians and strengthening national security, Komarov emphasized.
Kaan Terzioglu, CEO of Kyivstar’s parent company VEON Group, noted that Kyivstar has done a great job investing in 4G in Ukraine, expanding coverage to remote areas and improving the energy resilience of its network.
“We are pleased to start cooperation with Starlink to make Ukraine one of the world leaders in the implementation of Direct to Cell satellite communications,” Terzioglu was quoted as saying by Kyivstar’s press service.
VEON Chairman of the Board Augie C. Fabella II said that the partnership with SpaceX will allow the company to use space technology.
“This agreement (on the introduction of Direct to Cell technology) marks a transformational year for VEON: from moving its headquarters to Dubai and focusing all operations on the Nasdaq in New York, to strengthening its commitment to innovation and growth in the regions that need it most,” the press service quoted the VEON chairman as saying.
Kyivstar’s press service clarified that Ukraine will be one of the first countries to get access to Starlink’s innovative Direct to Cell service, which will significantly increase the resilience of the national communications infrastructure.
Kyivstar reminded that since 2013, VEON, the parent company of Kyivstar, has already invested more than $10 billion in Ukraine and has committed to invest another $1 billion in the restoration of digital infrastructure in the period from 2023 to 2027.
Earlier it was reported that Kyivstar has launched VoWiFi (Voice over Wi-Fi) service for its subscribers, which allows them to make calls via Wi-Fi even in places with a weak mobile network signal.
“Kyivstar is Ukraine’s largest electronic communications operator with about 23.3 million mobile subscribers and more than 1.1 million Home Internet subscribers. The company is 100% owned by the VEON group of companies, a Dubai-based digital communications operator that provides converged connectivity and digital services to nearly 160 million customers. VEON’s shares are listed on the Nasdaq stock exchange.
Starlink’s direct-to-cell satellites are equipped with advanced eNodeB modems, which enable them to act as cell towers in space.
In 2024, Kyivstar strengthened its support for the culture of corporate volunteering among its employees, believing in the power of small actions that can change the world for the better. The Kyivstar team joined the implementation of socially important projects and raised UAH 3 million to help the military, children and victims of war during the full-scale war.
Kyivstar’s large volunteer community regularly supports the company’s social initiatives. One of the key areas is corporate donation. This year, employees donated about 100 liters of blood to save the lives of civilians and soldiers.
A special initiative this year was a project in partnership with the SOS Children’s Villages charity. On Christmas Eve, the company’s employees made the dreams of more than 100 young Ukrainians come true. These are children and teenagers from vulnerable and internally displaced families affected by the war, as well as children from foster care from different parts of Ukraine. The employees not only donated gifts but also organized jewelry making workshops in Brovary, Kyiv and Lviv, where they participated together with the children.
“We believe that change starts with each of us. Corporate volunteering has become an integral part of Kyivstar’s culture. Our colleagues do not just support the company’s initiatives, they inspire and engage others in doing good deeds. I thank our entire team for this. Together we can do more,” comments Olesya Olenytska, Kyivstar’s Director of Corporate Communications.
Employees also join the company’s meetings. “As part of the Children’s Hope project, our volunteers raised about UAH 300 thousand for an ultrasound system for the burn department of the Unbreakable rehabilitation center. They also supported the company’s joint project with the Come Back Alive Foundation to demine the country – We Live Here 2.0.
The company’s internal social network has a group for mutual assistance, where employees regularly initiate and close each other’s meetings for various needs: assistance to the Armed Forces, health issues.
Kyivstar continues to develop a culture of corporate volunteering, inspiring its employees and partners to new achievements and supporting Ukrainian society in difficult times of war.
About Kyivstar
Kyivstar is Ukraine’s largest electronic communications operator, serving about 23.3 million mobile subscribers and more than 1.1 million Home Internet subscribers as of September 2024. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar is developing new telecom technologies in Ukraine and plans to invest USD 1 billion in this area in 2023-2027. THE COMPANY PLANS TO INVEST USD 1 BILLION IN THIS AREA. The company helps Ukraine overcome wartime challenges and has allocated over UAH 2 billion over the past two years to support the Armed Forces, subscribers, and social projects. Kyivstar’s shareholder is the international VEON Group. The Group’s shares are listed on the NASDAQ stock exchange (New York). Kyivstar has been operating in Ukraine for 27 years and is recognized as the largest taxpayer in the electronic communications market, the best employer and a socially responsible company. For more information: pr@kyivstar.net, www.kyivstar.ua
Ukrainians continue to demonstrate the power of unity and support for our defenders. As of the beginning of December, Kyivstar’s charity Superpower “Help for the Armed Forces of Ukraine”, activated by the operator’s subscribers, raised over UAH 52 million. The accumulated funds were transferred to the account of the “Come Back Alive” Foundation for Competent Assistance to the Army as part of joint projects.
The connected service allows prepaid subscribers to make a monthly donation of up to UAH 50 simply by using their mobile phone. The donation is automatically deducted when paying for the tariff without additional charges for the subscriber. You can check whether your tariff has the Super Power “Help for the Armed Forces of Ukraine” in the My Kyivstar application.
“Superpower ‘Help for the Armed Forces’ is an opportunity for every Kyivstar subscriber to join the support of our defenders without changing their daily habits. Thanks to subscribers’ contributions, together with Come Back Alive, we were able to implement large-scale projects to support air defense and de-mining. We are grateful to everyone who joins in. Together we are building the future of Ukraine, because we live here,” commented Oleksandr Komarov, CEO of Kyivstar.
In total, Kyivstar and the Come Back Alive Foundation have launched two major projects this year. The first initiative , We Live Here: Mobile Communication Systems for Air Defense, was launched in April. As part of this project, subscribers of the national electronic communications operator raised more than UAH 20 million with the help of the Help for the Armed Forces Superpower. Another 50 million was donated by Kyivstar. The funds raised were used to purchase 10 integrated communication systems for the South Air Command.
The second project was launched in August and will continue until the target amount is reached. This is the “We Live Here 2.0” initiative for demining the country. Its goal is to raise UAH 100 million for robotic systems and equipment for sappers to save their lives. So far, more than UAH 66.3 million has been raised, including UAH 22 million thanks to subscribers who activated the charity Superpower “Help for the Armed Forces”. Kyivstar, for its part, donated UAH 30 million to the project. Another UAH 13 million was donated by concerned Ukrainians and businesses. The initiative is being implemented with the informational support of the Ministry of Economy of Ukraine. The fundraising is ongoing, so everyone who cares can donate to the fund’s special account and to the project’s “bank”.
It should be noted that earlier this year, Kyivstar and Come Back Alive subscribers also joined the first collection for demining – “We live here” – and donated almost UAH 10 million with the help of the Help for the Armed Forces Superpower.
About Kyivstar
Kyivstar is Ukraine’s largest electronic communications operator, serving about 23.3 million mobile subscribers and more than 1.1 million Home Internet subscribers as of September 2024. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar is developing new telecom technologies in Ukraine and plans to invest USD 1 billion in this area in 2023-2027. THE COMPANY PLANS TO INVEST USD 1 BILLION IN THIS AREA. The company helps Ukraine overcome wartime challenges and has allocated over UAH 2 billion over the past two years to support the Armed Forces, subscribers, and social projects. Kyivstar’s shareholder is the international VEON Group. The Group’s shares are listed on the NASDAQ stock exchange (New York). Kyivstar has been operating in Ukraine for 27 years and is recognized as the largest taxpayer in the electronic communications market, the best employer and a socially responsible company. For more information: pr@kyivstar.net, www.kyivstar.ua
Kyivstar, the largest mobile operator in Ukraine, is raising its tariffs by 25% on average, providing subscribers with more services and bonuses.
“Kyivstar always strives to provide high-quality communication, stable Internet and additional services that meet the modern needs of our subscribers. That is why the company has revised the terms of some tariff plans for contract subscribers and will revise some more subscription tariffs by the end of the year. On average, the price will change by 25% of the tariff cost,” Kyivstar’s press service said in response to a request from Interfax-Ukraine news agency.
Subscribers will receive more benefits and services in the tariff: additional minutes for calls to other networks, additional gigabytes of mobile Internet, and the ability to connect additional unlimited services, the press service said.
The tariff plans LOVE UA Light Contract 2023, VASH Region, VASH Optimum, Smart Max, VASH Premium, VASH Premium+ have already changed. Additionally, the plans have promotional superpowers: unlimited internet, unlimited calls and unlimited SMS, which can be activated until June 30, 2025 inclusive.
The tariff plans are also closed: “VASH Vybir, Smart, Kyivstar 4G, Bezlim, Kyivstar 4G Extra+ 2018, LOVE UA Magnet Contract 2023. The company has offered other tariffs to users of these plans that are closer to their consumer needs, the press service said.
The choice of tariffs to be changed depends on many factors. In particular, they take into account the growth in service consumption, as well as the fact that the price of some tariffs has remained unchanged for a long time, the press service said. Kyivstar also periodically unifies its tariff plans to optimize service processes and ensure the efficiency of operations, closing them to new connections.
The company emphasized that subscribers can choose a different tariff that best suits their needs and capabilities. This can be done in the Tariffs section on the company’s website, in the My Kyivstar app or in any Kyivstar branded store.
The last time before the current increase, the company raised tariffs for some subscribers in April-May 2024. This never happens at the same time for all customers: indexation is carried out in parts and for different groups of subscribers, the Kyivstar press service noted.
It is reported that some tariff plans have not changed for more than a year, and for a number of others there have been no changes since the beginning of the full-scale invasion of Russia.
The decision to change the cost of services was influenced by the growth of consumption, the economic situation and the cost of providing the network with alternative sources of electricity, the press service says, emphasizing that the changes are a necessary step and a reasonable response of the company.
According to the State Statistics Service, the cost of telecommunications services has increased by an average of 4.3% since the beginning of the year, while electricity prices have risen by 63.6%, utilities by 18.6%, and food by 10.8%, the press service said.
Kyivstar recalled that it had purchased almost 2.5 thousand generators and 145 thousand lithium batteries to ensure uninterrupted operation of the grid during outages. The company’s expenses have increased as the equipment needs to be maintained and refueled. Since the beginning of the full-scale invasion, Kyivstar has already used 3 million liters of fuel for generators. The company has formed separate units to handle the equipment and pays salaries to employees who refuel the generators every day, starting at 5 am.
“The tariff revision will allow the company to continue investing in improving the network and providing stable communication for our subscribers. Thanks to these changes, we will be able to work even harder on energy sustainability, maintaining uninterrupted network operation, developing 4G and building new base stations across the country to make our services even more affordable and better,” Kyivstar’s press service said.
The company could not predict how the situation will develop in 2025, noting that “there are no exact dates or a list of tariffs that may change.”
“We are always guided by the principles of transparency and inform subscribers in advance if such changes are planned,” the mobile operator’s press service emphasized.
