Giraffe stake off the menu for Litovchenko

23 May 2018

Igor Litovchenko (the former president and founder of Ukrainian cellco Kyivstar) has left the ownership of fixed-wireless broadband network operator Intellectual Communications (Intellecom, trading as Giraffe), reports citing the official register of legal entities and local telecoms industry representatives. The main shareholder of Giraffe is now Ammar Aker, head of the board of directors of VTEL Middle East & Africa and CEO of Palestine Telecommunications (Paltel) Group.

TeleGeography’s GlobalComms Database says that United Arab Emirates-based VTEL acquired Giraffe in 2009, before Litovchenko took 90% ownership in June 2016 via offshore firm Magnilda Holdings (Cyprus), but he now appears to have opted to exit the WiMAX operator after a plan to refarm its wireless spectrum for 4G mobile services was abandoned, despite the announcement in November 2017 that Ukrainian regulator the NCCIR had decided to begin the process of converting the 2300MHz band to 4G LTE usage.