https://sputnikglobe.com/20231122/zelenskys-office-says-chances-high-for-nationalizing-internationally-owned-telecom-giant-kyivstar-1115149310.html
Zelensky’s Office Says Chances ‘High’ for Nationalizing Internationally-Owned Telecom Giant Kyivstar
Zelensky’s Office Says Chances ‘High’ for Nationalizing Internationally-Owned Telecom Giant Kyivstar
Sputnik International
In early 2022, Kiev created a legal framework for seizing the assets of people it considered to be “enemies of the state,” including Russian businessmen invested in Ukraine, as well as dissident Ukrainians.
2023-11-22T20:46+0000
2023-11-22T20:46+0000
2023-11-22T20:44+0000
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mikhail fridman
kiev
ukrainian security service (sbu)
ukraine
mike pompeo
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In a recent interview, a figure from the office of Ukrainian President Volodymyr Zelensky said the Ukrainian government is still considering nationalizing Kyivstar, the country’s largest telecom provider, which is now owned by a Dutch company.Rostislav Shurma, the deputy head of Zelensky’s office and the administration’s chief economic adviser, told Ukrainian media on Monday there was a “high probability” Kyivstar would be seized.Last month, the Ukrainian Prosecutor General’s Office ordered 99.9% of Kyivstar’s assets seized, although a Kiev court later scaled this back to 47.85% and claimed there had been a “typo” in the order. CEO Oleksandr Komarov later said he found out about the seizure from a Telegram post by the Ukrainian SBU security service.The court order facilitated the seizure of all “corporate rights” of three Russian businessmen: Peter Aven, Andrey Kosogov, and Mikhail Fridman, the lattermost of whom is the founder of LetterOne, a company that holds the largest stake in VEON, the Dutch parent company of Kyivstar.Komarov added that Fridman has “no role” in Kyivstar. “He’s one of the minority investors into the VEON business.”Last November, VEON disinvested from the Russian market by selling its Russian company, Vimpelcom, for $2.2 billion. It still has business interests in Uzbekistan, Kazakhstan, Kyrgyzstan, Pakistan, and Bangladesh, in addition to Kyivstar in Ukraine.Komarov added that Kiev’s behavior posted “a kind of big reputational risk” that could affect its attractiveness to foreign investment, which Kiev has already struggled to attract.In an interesting development, last week VEON announced it was bringing on Mike Pompeo, the former US Secretary of State and former CIA director, as an “independent non-executive director” for Kyivstar.“Secretary Pompeo joins in his capacity as a Partner of Impact Investments, a newly established US-based strategic and financial advisory and investment firm which seeks to develop long-term partnerships with the world’s leading companies across a range of industries and geographies,” VEON said, noting that Pompeo had been tapped due to being a partner in Impact Investments, “a newly established US-based strategic and financial advisory and investment firm.”
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https://sputnikglobe.com/20230623/fing-good-for-business-blackrock-doesnt-want-ukraine-conflict-to-end-1111430875.html
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kyivstar assets seized, is zelensky nationalizing kyivstar, russian oligarchs, veon
kyivstar assets seized, is zelensky nationalizing kyivstar, russian oligarchs, veon
Zelensky’s Office Says Chances ‘High’ for Nationalizing Internationally-Owned Telecom Giant Kyivstar
Shortly after the eruption of hostilities with Russia in early 2022, Kiev created a legal framework for seizing the assets of people it considered to be “enemies of the state,” including numerous Russian businessmen who had invested in the Ukrainian market in recent decades, as well as dissident Ukrainians.
In a recent interview, a figure from the office of Ukrainian President Volodymyr Zelensky said the Ukrainian government is still considering nationalizing Kyivstar, the country’s largest telecom provider, which is now owned by a Dutch company.
Rostislav Shurma, the deputy head of Zelensky’s office and the administration’s chief economic adviser, told Ukrainian media on Monday there was a “high probability” Kyivstar would be seized.
“The relevant services are studying the legal situation. I think there is a high probability of sanctions with subsequent confiscation of this company,” Shurma said.
Last month, the Ukrainian Prosecutor General’s Office ordered 99.9% of Kyivstar’s assets seized, although a Kiev court later scaled this back to 47.85% and claimed there had been a “typo” in the order. CEO Oleksandr Komarov later said he found out about the seizure from a Telegram post by the Ukrainian SBU security service.
7 September 2023, 18:02 GMT
The court order facilitated the seizure of all “corporate rights” of three Russian businessmen: Peter Aven, Andrey Kosogov, and Mikhail Fridman, the lattermost of whom is the founder of LetterOne, a company that holds the largest stake in VEON, the Dutch parent company of Kyivstar.
“Kyivstar is an international entity, 100% owned by the VEON company,” Komarov told Ukrainian media at the time. “VEON is a public international entity that is operating in six countries, including Ukraine and is listed on NASDAQ and Euronext, and [VEON] is partially owned by the Letter One company that is actually partially owned by Mr. Fridman.”
Komarov added that Fridman has “no role” in Kyivstar. “He’s one of the minority investors into the VEON business.”
Last November, VEON disinvested from the Russian market by selling its Russian company, Vimpelcom, for $2.2 billion. It still has business interests in Uzbekistan, Kazakhstan, Kyrgyzstan, Pakistan, and Bangladesh, in addition to Kyivstar in Ukraine.
Komarov added that Kiev’s behavior posted “a kind of big reputational risk” that could affect its attractiveness to foreign investment, which Kiev has already struggled to attract.
“Mainly in the area of the investment climate, because we desperately need huge international support and investments in order to rebuild and recover our country, not just after but during the war,” he said.
In an interesting development, last week
VEON announced it was bringing on Mike Pompeo, the former US Secretary of State and former CIA director, as an “independent non-executive director” for Kyivstar.
“Secretary Pompeo joins in his capacity as a Partner of Impact Investments, a newly established US-based strategic and financial advisory and investment firm which seeks to develop long-term partnerships with the world’s leading companies across a range of industries and geographies,” VEON said, noting that Pompeo had been tapped due to being a partner in Impact Investments, “a newly established US-based strategic and financial advisory and investment firm.”
