Uklon has officially confirmed that it is currently in negotiations with Kyivstar on a possible deal. This was announced by Serhiii Hryshkov, CEO of Uklon, in an exclusive commentary for AIN.
- Kyivstar, a Ukrainian mobile operator that is in the process of entering the Nasdaq stock exchange, previously submitted an application to the Antimonopoly Committee of Ukraine stating its intention to acquire the Uklon taxi service.
- Uklon's CEO Serhii Hryshkov told AIN that the company is in talks with Kyivstar on a potential deal. However, the deal can only be finalized after getting approval from the Antimonopoly Committee of Ukraine (AMCU) and completing other necessary steps.
- If the deal is successful, the investment will be used to develop Uklon's digital services, expand into new markets, and grow the team. The deal won't affect the company's structure or lead to management changes.
- According to the Forbes Ukraine analytical department, the current value of the company is estimated at $40-80 million.
'We believe that Kyivstar's experience, expertise, resources and advanced technologies will help to strengthen Uklon's leading services, providing users with an even better, more innovative and convenient product: our riders, driver partners and business customers,’ Serhii Hryshkov, CEO of Uklon, said in a comment to AIN.
Why does Kyivstar need Uklon?
Kyivstar's potential acquisition of Uklon could help it position itself as a digital company or a super-app, rather than a telecommunications company, when it goes public. This could lead to a higher valuation, as telecom companies are typically valued lower than digital ecosystems or super-apps.
AIN reminds that in June last year, Uklon co-founders invested $200 000 in Buntar Aerospace, a Ukrainian defense tech company.
