Turkcell sells lifecell to French NJJ Capital: New owner and details of the deal

The Turkish telecommunications company Turkcell has signed an agreement to sell the third largest mobile operator in Ukraine, lifecell, to the French investment company NJJ Capital. This information was published on the Turkish public disclosure platform late on December 29.

The agreement covers the sale of lifecell LLC, a mobile operator, Ukrtower LLC, a mobile tower operator, and the call center network of Global Bilgi LLC. The agreement was signed on the same day, December 29.

It is noted that the transaction is planned to be completed after obtaining all necessary permits, and further details and developments will be fully and timely disclosed to the public.

The new owner is NJJ Capital, a French investment company owned by billionaire Xavier Niel. Xavier Niel is also the founder and majority shareholder of Iliad, the third largest mobile operator in France, which operates under the Free brand. He is also the owner of Le Monde newspaper, Monaco Telecom, Salt Mobile in Switzerland, and Irish telecom company Eir.

The reasons for the sale and the amount of the transaction remain unknown at the moment. The nominal value of the sold shares of lifecell is UAH 12.71 billion, Ukrtelecom - UAH 1.96 billion, and Global Billi - UAH 47.23 million.

This strategic step by Turkcell in selling lifecell opens a new stage for the Ukrainian mobile market and determines its prospects in the hands of French investors. The new stage of the company's development may lead to new innovations and improvements in the mobile technology sector in Ukraine.