Kyivstar will gain control over GigaCloud: AMCU approved the deal, but set a number of conditions

Ukraine’s largest mobile operator continues to expand its business beyond the traditional telecom market. The Antimonopoly Committee of Ukraine has allowed Kyivstar to acquire control over one of Ukraine’s largest cloud service providers, GigaCloud.

The AMCU made the relevant decision on July 9, 2026. At the same time, the deal was agreed with obligations aimed at preserving competition in the cloud services market.

Kyivstar will gain control over a large cloud provider

GigaCloud specializes in providing cloud infrastructure and server capacity for storing and processing information. The company’s services are used by more than 1,500 clients, including representatives of business and the public sector.

In particular, the provider’s capacities are used by the public services portal “Diya”, the National Health Service of Ukraine, the Ministry of Social Policy, Ukrayorukh, the State Security Department, and the Odessa Sea Port.

Thus, after the transaction is completed, Kyivstar will gain control over the company, whose cloud services are used to operate a number of important state and commercial digital systems.

What conditions did the AMCU set for Kyivstar

During the consideration of the concentration, the Antimonopoly Committee paid attention to possible risks to competition.

In particular, the regulator took into account the potential possibility of creating package offers under which GigaCloud cloud services could be provided together with mobile communications, fixed Internet or other Kyivstar services. Such a model could create unequal conditions for other telecom operators and Internet providers.

To minimize such risks, Kyivstar has undertaken a number of obligations.

In particular, the company must not:

tie GigaCloud cloud services to mobile communications, home Internet or other proprietary services;
establish different conditions for the provision of cloud services depending on which Internet provider the client uses;
limit the possibility of ordering GigaCloud services separately without connecting other services of the Kyivstar group.

In addition, the operator must not worsen the terms of service for GigaCloud customers who do not use or do not plan to use other Kyivstar services.

The Antimonopoly Committee will monitor the implementation of the obligations undertaken. The company must also report to the regulator annually on their compliance.

How much does GigaCloud earn

According to the results of 2025, GigaCloud significantly improved its financial indicators.

The company’s revenue increased by 37.1% and reached UAH 561.44 million. Net profit increased by approximately 3.8 times – to UAH 130.26 million.

The official value of the transaction is not disclosed by the parties at this time. It is known that Kyivstar planned to acquire about 80% of GigaCloud.

According to Forbes Ukraine, the value of the entire company could be about $ 10 million. Other experts estimated GigaCloud at $12–15 million.

Thus, the acquisition of 80% of the company could cost Kyivstar approximately $8–12 million.

At the official NBU exchange rate on July 13, 2026 — UAH 44.495 per dollar — the potential value of the package could be approximately UAH 356 million–534 million.

When can the acquisition of GigaCloud pay off?

If, after the transaction is completed, Kyivstar receives 80% of the economic benefit from GigaCloud’s activities, then according to the financial indicators of 2025, the operator’s share will potentially account for about UAH 104.2 million in net profit per year.

In this scenario, investments in the acquisition of the package could pay off in approximately 3.4–5.1 years.

At the same time, this calculation is simplified. The actual payback period will depend on the final value of the transaction, GigaCloud’s future financial results, the amount of additional investments in cloud infrastructure and the share of profits that the company will direct to further development.

The acquisition of GigaCloud may be another step for Kyivstar in expanding its digital ecosystem and going beyond traditional telecommunications services. At the same time, the conditions set by the AMCU should prevent restrictions on competition and ensure equal access of customers to cloud services regardless of which telecommunications operator they use.