The Antimonopoly Committee of Ukraine (AMCU) has received an application for the purchase of Uklon taxi service from the largest telecom company in Ukraine, Kyivstar.
This is stated in the publication of Economic Pravda with reference to Forbes Ukraine, Ukrainian News Agency reports.
The report states that in December 2024, the Antimonopoly Committee received applications from Kyivstar to acquire Ukrainian LLCs Tech Uklon, Uklon Corporate, Uklon Ukraine and Cypriot UKLON LTD, according to the Committee's response to a request from Forbes Ukraine.
The Antimonopoly Committee has received an application for permission from Kyivstar to acquire control (through LLC Uklon Corporate) over Uklon Ukraine's assets, which provide ride-hailing, delivery and online advertising activities, the response to the publication states.
Forbes Ukraine estimated the current price of the company and it could be USD 40-80 million.
It is noted that, according to EP sources, negotiations between Kyivstar and Uklon regarding a possible acquisition have been ongoing since at least July 2023.
One of the reasons for the delay in making a positive decision, according to EP, could be the currency of the transaction.
Kyivstar sought to conclude a deal in hryvnias, since the exchange of large sums of dollars is currently difficult.
As Ukrainian News Agency earlier reported, in mid-January, VEON announced the signing of a memorandum of understanding with Cohen Circle with the aim of further listing Kyivstar on the Nasdaq stock exchange in New York.
Kyivstar has the largest mobile and fixed-line network in the country and serves about 24 million subscribers.
Kyivstar's digital services portfolio includes the Helsi digital health platform with a registered user base of 28 million and the Kyivstar TV film and television platform.
VEON's largest shareholder is LetterOne Group, which was founded by the founders of the russian Alfa Group, Mikhail Fridman, German Khan, and Alexei Kuzmichov. In 2022, they left the Board of Directors after russia's full-scale invasion of Ukraine and the imposition of sanctions against Fridman.
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