Vodafone Ukraine completes Vega takeover

9 Sep 2021

Vodafone Ukraine announced the completion of its acquisition of fixed broadband and voice network operator Vega from Ukrainian conglomerate System Capital Management (SCM) on 8 September 2021. The deal, reportedly worth up to USD15 million, involved the acquisition of 99.99% of shares in Vega’s holding company Farlep-Invest and over 95% of an associated fixed internet company, Cable TV-Finance. Vodafone Ukraine said in a statement on its website that it plans to continue Vega’s operations and further develop its telecoms business including fixed line services.

Vodafone Ukraine, the country’s second largest mobile operator by subscribers, is wholly owned by Azerbaijani cellco Bakcell. CEO Olga Ustinova previously commented on the Vega takeover: ‘Entering the fixed line market will be one of the strategic priorities for Vodafone in the next two years. We plan to provide converged services, as consumers want to receive all services [including] mobile communications, mobile/home internet and television.’ Vodafone Ukraine additionally highlighted that the two acquired companies Farlep-Invest and Cable TV-Finance own frequency resources in the 2.3GHz range (15MHz in six regions) as well as in the 2.5GHz-2.7GHz range.

Ukraine, Vega (owned by Vodafone Ukraine), Vodafone Ukraine