The Shevchenkivsky District Court in Kyiv has lifted the freeze on 47.85% of corporate rights in Kyivstar, Ukraine's largest mobile operator, and on 100% of corporate rights in its subsidiaries (Ukraine Tower Company, Kyivstar Tech, and Helsi), according to the company's press service.

"Kyivstar, part of the VEON group, welcomes the decision of the Shevchenkivskyi District Court in Kyiv to lift the freeze on 47.85% of VEON's corporate rights in Kyivstar and 100% of its rights in other Ukrainian subsidiaries (Ukraine Tower Company, Kyivstar Tech, and Helsi). This ruling fully overturns the corporate rights restrictions previously imposed by Ukrainian courts," the press service stated on Friday.

According to Kyivstar CEO Oleksandr Komarov, this decision will allow the company to focus on expanding its 4G coverage, enhancing energy resilience, and developing digital services in Ukraine.

"Today's decision allows us focus on our plans to increase energy resilience, expand 4G coverage and develop digital services in Ukraine with greater confidence. With our 4000-strong team and the support of our parent company VEON, we are honored to play a key role in Ukraine’s resilience, and have done so with more vigor than ever since the onset of the war. Our partnership with the Ukrainian government, international and local businesses and with the people of Ukraine will now only accelerate, supporting the reconstruction of our country," the press release quoted Komarov as saying.

VEON, the parent company, also welcomed the ruling.

"As a Nasdaq-listed company, we warmly welcome today's ruling on behalf of all our stakeholders. By fostering a secure and transparent environment for foreign direct investment, Ukraine is positioning itself as a beacon for international business, and inspires further confidence among current and potential investors. As an American-founded company with strong U.S. ties and a long history of commitment to Ukraine, VEON looks forward to deepening our partnerships and contributing to Ukraine’s resilience and recovery," said Augie K Fabela II, Chairman of the Board and American Founder of VEON, as quoted in the release.

Kyivstar said that VEON has invested more than $10 billion in the country's economy since Kyivstar joined the VEON Group. VEON has committed to invest $1 billion to rebuild Ukraine's digital infrastructure through 2027 and has called on other international investors to invest in Ukraine.

Kyivstar's most recent investments include the spectrum acquisition during the auction held on 19 November 2024 and the ongoing expansion of the energy resilience of the Kyivstar network in order to keep the country connected, according to the press service.

VEON is the 100% owner of Kyivstar, which continues to serve the country and its customers in line with the national security priorities of Ukraine.

Previously, it was reported that Kyivstar had been denied 15 motions and 8 appeals related to the freeze of 47.85% of the company’s shares and stakes in Kyivstar Tech, Helsi Ukraine, Vimpelcom Global Services Ukraine, and Ukraine Tower Company.

The Shevchenkivskyi District Court had earlier reduced the frozen stake in Kyivstar from 99.99% to 47.85%, as part of provisional measures in a case initiated in late September 2023 against Alfa Group co-owner Mikhail Fridman. This adjustment was made following a prosecutor's motion to correct an error.

The court upheld the original freeze on other assets, including 100% of the charter capital of Kyivstar Tech, 69.99% of Helsi Ukraine, 100% of Vimpelcom Global Services Ukraine, and 100% of Ukraine Tower Company.