31 Aug 2023 09:39

Vodafone Ukraine pays over $20 mln for Ukrainian Internet provider Freenet

MOSCOW. Aug 31 (Interfax) - Vodafone Ukraine paid UAH746 million (about $20.4 million at the current rate) for the acquisition of 90.6% of Internet service provider Freenet LLC.

"The requisite payment of UAH746 million was made on the day the share purchase agreement was concluded. The transaction has been completed and registered in accordance with current legislation," Ukrainian media reported, citing Vodafone Ukraine's consolidated financial statement.

Vodafone Ukraine announced last week that it had completed the acquisition of Freenet as part of its "strategy to develop convergent services and rates." The company did not disclose the price at the time.

Freenet is a national broadband Internet provider that provides services in Kiev and a number of other regions, including Dnepropetrovsk, Zhitomir, Ivano-Frankovsk, Lvov, Kiev, Rovno, Khmelnitsy and Chernigov. The company, which has been operating on the market since 2008, builds its networks using FTTx and GPON technology and has a subscriber base of more than 163,000 customers.

Vodafone Ukraine, the country's second largest mobile provider, has 15.4 million subscribers. In September 2021, the company completed the acquisition of national telecom operator Vega, which provides bundled landline telephone, broadband Internet and data transmission and storage services.

Vodafone Ukraine has been part of the international group NEQSOL Holding since December 2019.

The official exchange rate was UAH36.57/$1 on August 30.