NJJ Holding, the investment company owned by Xavier Niel, has completed its acquisition of Datagroup-Volia, Ukraine’s largest fixed-line telecommunications and pay-TV provider. This acquisition coincides with the announcement of NJJ Holding’s consortium-led purchase of Lifecell, Ukraine’s third-largest mobile operator. The consortium, which includes US private equity firm Horizon Capital, led by Lenna Koszarny, and Target Group CEO Mykhaylo Shelemba, plans to merge Datagroup-Volia with Lifecell to create a new, comprehensive telecommunications platform.
This transaction is notable as the first major investment by a new market entrant and a large strategic investor since the Russian invasion in February 2022. These investments aim to upgrade and expand Ukraine’s telecommunications infrastructure. The combined platform will offer mobile services to nearly 10 million Ukrainians, and its fixed network will extend to more than 4 million homes across the country. The platform will also develop triple play services, integrating mobile telephony, fixed connectivity, and pay TV, enhancing service quality, pricing, and alignment with European standards.
The DWF France team leading NJJ Holding’s legal advisory included Pascale Gallien (Partner), Vincent Maufront (Of Counsel), and François Galéa (Associate) on corporate matters. DWF UK for aspects of English law was led by Director Jemil Visram. DWF coordinated with Kinstellar in Ukraine and Georgiades & Pelides LLC in Cyprus to ensure a seamless acquisition process.
“DWF is very proud to have been entrusted by NJJ and to have contributed to a successful outcome of this landmark transaction. It included various complexity factors both from a legal and coordination standpoints, furthermore in a challenging multijurisdictional context including Ukraine.”