What is known
Kyivstar, Ukraine's largest mobile operator, is negotiating the purchase of a stake in Comfy — an announcement about the deal could come as soon as next week, Forbes Ukraine reports. This is not a full takeover: according to the publication, it concerns roughly 10% held by management and a possible stake of co-owner Svitlana Hutsul (about 25%). The controlling stake remains with Stanislav Ronis.
"They are buying the management stake of about 10%, possibly the stake of co-owner Svitlana Hutsul, who owns about 25%, and some portion of Ronis"
— source, Forbes Ukraine
Why Kyivstar
This operation fits into the company's broader strategy to transform into a digital platform. Combining mobile access, services, and retail creates potential to develop a marketplace, simplify logistics, and offer more flexible tariff and promo options for customers. For users, this could mean faster access to devices, integrated financial services, and more convenient digital products.
Finance and valuation: two market views
The financial terms of the deal have not been officially disclosed. Forbes suggests that Comfy's valuation may exceed $300 million, while investment firm Altius Capital gives a significantly lower range — $91–106 million including the company’s cash balances. The discrepancy in valuations is explained by different methodologies, inclusion or exclusion of cash on hand, and a risk premium due to the current market situation.
"We value Comfy at $91–106 million taking into account the company's cash balances"
— Vadim Khrystoforov, vice president of Altius Capital
Context — Kyivstar's recent moves
The Comfy operation is the latest step following a series of transactions: in April 2025 Kyivstar closed the acquisition of 97% of the rights to the Uklon service; in August the company debuted on Nasdaq; in January — commitments submitted to the Antimonopoly Committee in the Tabletki.ua acquisition case. This indicates a consistent strategy of diversification and building an ecosystem of services.
What will change for the market and the consumer
The merger of tech and retail assets strengthens the local ecosystem: improved logistics, broader access to fintech products, and potential for price and service competition with major marketplaces. At the same time, the deal reduces the risk that strategic assets will fall under full control of foreign structures during economic turbulence.
What to expect next
Official figures and the structure of the deal will be clarified upon public announcement. But it is already possible to say: this is not merely an investment in retail — it is an investment in digital infrastructure that directly affects services, jobs, and economic resilience. The next step is up to regulators and management — namely, how quickly technical and business integration will translate into tangible benefits for consumers and the market.
