The Turkish telecommunications company Turkcell Iletisim Hizmetleri AS has signed an agreement to sell its units in Ukraine to the French company NJJ Capital.
Bloomberg reports this, Ukrinform reports.
The holding, which owns such companies as Lifecell LLC, Global Bilgi LLC and Ukrtauer LLC, announced the sale on December 29. However, the reasons for the sales have not been specified and the terms of the sales have not yet been determined.
The nominal value of the shares being sold is UAH 12.7 billion ($333.4 million) for Lifecell, UAH 47.2 million for Global LLC and UAH 1.96 billion for Ukrtauer LLC. The sale price per share will be determined later.
The sale comes a few months after Ali Taha Koç was appointed as the new CEO of Turkcell. Koç previously worked as an adviser to the Turkish government and was later appointed head of the information technology department in the administration of President Erdogan.
Turkcell shares have risen 48% this year. The company reported net profit of 5.48 billion liras for the third quarter, beating analysts' forecasts.
As Ukrinform reported, communications and technology company Veon Ltd. said it had completed the sale of its Russian unit, ending months of negotiations to break away from Russia following its 2022 invasion of Ukraine.