The leading Ukrainian mobile operator Kyivstar is considering the acquisition of up to ten new companies as part of its merger and acquisition strategy. This was announced by the company’s CEO Oleksandr Komarov, who outlined the priority areas for future investments.
This is reported by Business • Media
Investment Priorities: Telecom, Digital Services, and Energy
According to the head of the company, Kyivstar is focused on developing its telecommunications business, expanding digital services, and investing in alternative energy. The company pays particular attention to financial technologies (fintech) and the e-commerce sector, which, according to Komarov, remain the most attractive for a digital operator.
“The two most attractive sectors from the perspective of a digital operator are fintech and e-commerce,” added Komarov.
In addition, Kyivstar continues to focus on areas already represented in its portfolio — namely digital medical services and modern mobility.
History of Deals and Investment Strategy
Since 2022, the company has made several significant strategic acquisitions. The first major purchase during the large-scale war was the medical service Helsi. Three years later, Kyivstar expanded its presence by acquiring the taxi service Uklon. Recently, the operator invested for the first time in renewable energy, adding the solar power plant Sanvin 11 to its assets.
According to Komarov, the company is ready to consider further acquisitions if attractive assets with appropriate value that align with Kyivstar’s development strategy become available. He noted that there are no financial constraints for such deals, although the market situation affects the valuation of potential assets due to what he referred to as a “war discount.”
From 2023 to the third quarter of 2025, Kyivstar invested approximately 880 million US dollars, of which nearly one-fifth was directed towards acquiring new businesses. The company is owned by the international group Veon, whose shares are listed on the Nasdaq stock exchange in New York.