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Ukrainian mobile operator Kyivstar has announced the acquisition of a 97% stake in taxi and delivery service Uklon for $155.2 million. This was reported by the parent company Veon.
Digital expansion strategy
Veon noted that the acquisition of Uklon is part of Kyivstar’s strategy to expand into the digital consumer services sector.
“This agreement will allow us to integrate telecommunications and digital services, creating unique opportunities for our customers,” the company said in a statement.
The total transaction value was $155.2 million for a 97% stake in Uklon Group.
What does the deal mean for the market?
The acquisition of Uklon opens up new opportunities for Kyivstar to develop in the digital services ecosystem, allowing the operator to combine mobile services with taxi and delivery platforms.
The deal is expected to increase competition in a market where giants such as Bolt and Uber already operate.
The deal is expected to be finalised and the services integrated in the coming months.
