Lifecell latest to show interest in Volia, sources claim

10 Nov 2017

Ukraine’s third-placed mobile operator Lifecell – a wholly owned subsidiary of Turkcell – is interested in buying the country’s largest cableco Volia, according to three separate anonymous telecoms industry sources cited by Liga.net, claiming that meetings have already been held between Lifecell and Volia on merger propositions. The report follows an interview with Lifecell CEO Ismet Yazici last month in which he stated that the company was interested in expanding into fixed network services, adding that there were ‘two companies, two assets’ on Lifecell’s acquisition radar, although declining to name the targets.

One of the unnamed sources also claimed that a recent approach for Volia from an investment fund fronted by politician and media entrepreneur Boris Lozhkin had been rejected as the financial offer was too low. Meanwhile, it is known that Volia’s largest shareholder, Providence Equity Partners, is looking to exit its Ukrainian investment in the short term.

Ukraine, Lifecell (formerly Astelit), Volia