French billionaire buys Lifecell mobile operator

French billionaire Xavier Niel's company NJJ Holding has bought Datagroup-Volia, a fixed-line and pay-TV provider, and lifecell, a mobile operator in Ukraine, according to a press release from the American private equity firm Horizon Capital on September 9, UNN reports.

Details

"NJJ Holding ("NJJ"), an investment company founded and wholly owned by Xavier Niel, founder of iliad, Europe's leading telecommunications group, today (on September 9) announced the acquisition of Datagroup-Volia, a leading fixed line and pay-TV provider in Ukraine, and Lifecell, the country's third largest and fastest growing mobile operator. The transaction was completed following the fulfillment of all conditions precedent, including obtaining the necessary regulatory approvals," Horizon Capital said in a statement.

Datagroup-Volia and Lifecell are reportedly "to merge to create a converged telecommunications platform." 

It is indicated that the next important stage for the unified platform is the signing of documents and the provision of a joint financial package of 435 million US dollars, which is provided by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).

For reference

Xavier Niel is a French billionaire known as the founder, owner and chairman of the board of directors of the French telecommunications group Iliad.