On September 9, NJJ Holding officially became the owner of Datagroup-Volia and lifecell companies.
The companies launched the merger process managed by Mykhailo Shelemba, CEO of the merged platform. Learn more about this from a joint release of NJJ Holding, Horizon Capital, and Datagroup and Volia companies.
NJJ consortium led by Xavier Niel completed the acquisition of Datagroup-Volia and lifecell
Transaction is Completed
NJJ Holding (NJJ), an investment company founded and wholly owned by Xavier Niel, founder of Europe’s leading telecommunications group iliad, has announced today the acquisition of Datagroup-Volia, a leader among fixed-line and pay-TV providers in Ukraine, and lifecell, the country’s third largest and fastest-growing mobile operator. The agreement was completed upon fulfillment of all conditions precedent, including obtaining the necessary regulatory approvals.
A consortium of NJJ, Horizon Capital, an American private investment company, led by Olena Kosharna, together with Mykhailo Shelemba, CEO of Datagroup-Volia, will merge Datagroup-Volia and lifecell to create a convergent telecommunications platform aimed at expansion, growth, and investment. This historic agreement is the first significant investment by a new market participant and strategic investor since the full-scale invasion, supporting the development and modernization of Ukraine’s telecommunications infrastructure.
Strategic investments and financing
The next important stage for the joint platform is the signing of documents and the provision of a shared financial package of $435 million, which is provided by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). Both institutions received the necessary approvals from their boards of directors after the announcement of that agreement at the Ukraine Recovery Conference in Berlin in June 2024. NJJ, Horizon Capital, and Mykhailo Shelemba look forward to a long-term partnership with the EBRD and IFC that will launch a large-scale investment program, including investments in networks, licenses, equipment, and expansion of fixed and mobile infrastructure in Ukraine.
Leadership & vision
Mykhailo Shelemba, the current CEO of Datagroup, will head the joined Datagroup-Volia-lifecell platform. Pierre Danon, Chairman of the Datagroup-Volia Supervisory Board, will also continue his work as Chairman of the Supervisory Board of the joint structure. The joint company will provide mobile services to more than 10 million Ukrainians, and its fixed network will cover more than 4 million households across the country. The merger of Datagroup-Volia and lifecell will also allow consumers to avail the offer of a triple package of services, which will include mobile, fixed-line connection and pay-TV, while providing a higher quality of service, a better price and promoting further integration with European standards.
Xavier Niel, founder of NJJ Holding, commented, “I am pleased to announce the completion of this landmark French investment in Ukraine’s telecommunications sector which we believe will bring significant and tangible benefits to customers, the market, and the country as a whole. We are confident that our historic agreement will be a signal to others that Ukraine offers attractive opportunities, and the time for investment has come. We are pleased to welcome CEO Mykhailo Shelemba to our team of esteemed executives who lead NJJ’s telecommunications projects around the world. We are also pleased to deepen our cooperation with Horizon Capital as our Ukraine’s minority partner and our long-term financial partnership with the EBRD and IFC institutions.”
Olena Kosharna, Founder and Chief Executive Officer of Horizon Capital, added, “It is a great honor and an incredible pleasure for us to complete this historic agreement together with Xavier Niel and his first-rate team at NJJ. We aspired to, and we managed to attract a truly visionary strategic investor for Ukraine, who will continue to develop and expand the successful Datagroup-Volia and lifecell platforms. We look forward to continuing this exciting journey over the years, together with NJJ as their partner in Ukraine, as well as working with our esteemed investors the EBRD and IFC in this agreement. We congratulate CEO Mykhailo Shelemba on his well-deserved empowerment, which will further underline his strong leadership and strong business skills. We are confident that this agreement will mark in a new era of investment in Ukraine’s technology and infrastructure sectors, contributing to resilience and growth.”
Mykhailo Shelemba, CEO of Datagroup-Volia, added, “The conclusion of this agreement paves the way for the merger of Datagroup-Volia and lifecell and the creation of a new champion in the Ukraine’s telecommunications industry, thanks to the merger of two outstanding assets with great potential for synergy. Expanding the offer of the triple service package will bring consumers obvious and tangible benefits in cost, convenience, and quality of service. Mutual integration of customer bases, optimization of costs and business processes, as well as increasing investments in the network will allow us to offer even more attractive and competitive packages to subscribers, ahead of the individual offers of both individual companies. This opportunity became a reality only thanks to the courage of the brave defenders of Ukraine, who continue to defend their country at this crucial time. And also with the participation of more than 5,000 talented, dedicated managers and employees of Datagroup-Volia and lifecell, who have demonstrated remarkable resilience and responsibility in providing Ukrainians with high-quality services every day despite all the difficult circumstances. I am grateful to Horizon Capital for their vision, trust, and support as the main shareholder of Datagroup-Volia and look forward to starting this new, exciting phase under the leadership of Xavier Niel and NJJ – undoubtedly one of the world’s most experienced and innovative telecom investors.”
CMS was the main legal advisor in this agreement, KPMG was the tax and financial advisor to the investor consortium. Avellum represented all parties as an advisor on competition and antitrust law, DWF became a legal advisor, and Kinstellar acted as an advisor on Ukrainian law to NJJ. Lazard acted as financial advisor to Horizon Capital and Mykhailo Shelemba.
