Tall story: Kyivstar founder owns Giraffe

4 Jul 2016

Igor Litovchenko, the former head and founder of Ukraine’s mobile market leader Kyivstar, has taken ownership of Ukrainian fixed-wireless broadband network operator Giraffe, reports BizLiga. According to state registry data, Litovchenko has become the ultimate owner of offshore firm Magnilda Holdings Ltd (Cyprus), which in turn owns Ukraine-based Intellectual Communications (Intellecom, trading as Giraffe). Whilst a relative minnow in terms of subscriber numbers, Giraffe has attractive assets including a 4G-suitable nationwide (55MHz) licence in the 2.3GHz band, valid until April 2019. The operator, which currently provides wireless broadband access based on WiMAX and Canopy systems, had been owned by United Arab Emirates-based VTEL Holdings since 2009.

Ukraine, Intellecom (Giraffe), VTEL Holdings (incl. VTEL MEA)