«Kyivstar» company reported on the decision of the Kyiv court, which completely cancels the restriction of corporate rights, previously imposed on a share of the company’s shares, which belong to structures related to LetterOne, an investment holding founded by Friedman and his partners.
«Kyivstar» company reported on the decision of the Kyiv court, which completely cancels the restriction of corporate rights, previously imposed on a share of the company’s shares, which belong to structures related to LetterOne, an investment holding founded by Friedman and his partners.
The decision of the Shevchenkiv District Court. Kyiv lifted the seizure of 47,85% of VEON’s corporate rights in Kyivstar and 100% of VEON’s corporate rights in its other Ukrainian subsidiaries (Ukraine Tower Company, Kyivstar Tech and Helsi), the company’s website reported .
Kyivstar CEO Oleksandr Komarov emphasized that this decision will allow the company to focus more confidently on plans to expand 4G coverage, increase energy sustainability and develop digital services in Ukraine.
«As a Nasdaq-listed company, we wholeheartedly welcome today’s decision on behalf of all our stakeholders. By creating a safe and transparent environment for foreign direct investment, Ukraine positions itself as a beacon for international business and instills additional confidence in current and potential investors,» said Ogi K. Fabela II, Chairman of the Board and American founder of VEON.
It will be recalled that at the beginning of October 2023, the court seized the corporate rights of Russian oligarchs Mykhailo Fridman, Petro Aven and Andriy Kosogov on Kyivstar, Helsi and other Ukrainian assets. These oligarchs are part of Putin’s entourage and are involved in the «schemes» of large-scale financing of the armed aggression of the Russian Federation. The court’s decision concerned 20 companies and financial and credit institutions that the Kremlin oligarchs own as ultimate beneficiaries or through controlled offshore companies. The value of seized corporate rights is over UAH 17 billion.
«Kyivstar» issued public comments on the situation with the arrest and noted that the sanctioned person is not the ultimate beneficial owner of «Kyivstar», does not in any way influence the company’s activities and does not receive any financial or other benefit.
At the auction of radio frequencies, which took place in Kyiv on November 19, «Kyivstar» expanded the spectrum of frequencies and acquired the 2,300 MHz and 2,600 MHz bands.
«Kyivstar» is the largest Ukrainian electronic communications operator, which as of September 2024 served about 23.3 million mobile subscribers and more than 1.1 million «Home Internet» subscribers. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, services for cyber protection, digital TV, etc. «Kyivstar» is developing new telecom technologies in Ukraine and plans to invest $1 billion in this direction during 2023-2027. The company helps Ukraine overcome the challenges of wartime and over the past two years has allocated over UAH 2 billion to support the Armed Forces, subscribers, and implement social projects. The shareholder of «Kyivstar» is the international VEON Group. The Group’s shares are listed on the NASDAQ stock exchange (New York).
