The Antimonopoly Committee of Ukraine rejected the first application of Kyivstar to acquire cloud provider GigaCloud. The Antimonopoly Committee of Ukraine is currently processing a second application.
The Antimonopoly Committee of Ukraine rejected the first application of Kyivstar to acquire cloud provider GigaCloud. The Antimonopoly Committee of Ukraine is currently processing a second application.
The Antimonopoly Committee reported this in a comment to Forbes Ukraine.
Kyivstar’s first application to the AMCU was rejected on October 3, but on October 24, the company sent a second application. The Committee explained that the previous application did not meet the requirements of the «regulations on the procedure for considering applications and cases on the concentration of business entities.» The AMCU is currently analyzing the documents of the second application.
Earlier, dev.ua sources reported that at a meeting with GigaCloud employees, it was announced that 80% of the company would be sold to the mobile operator Kyivstar. One of the insiders noted that GigaCloud could have been valued at $12–15 million.
Other figures are provided by the CEO of cloud services provider DeNovo, Maksym Ageyev. In a comment to Forbes Ukraine, he indicated that the lowest estimate is 5-6x EBITDA. Then the value of GigaCloud could be about $10 million.
