27.01.2025 Business of Occupiers

Russians want to buy Uklon: what is hidden behind big deals

Kyivstar mobile operator has applied to the Antimonopoly Committee of Ukraine for permission to buy Uklon, one of the country’s largest taxi services. This news has caused a wave of discussion among Ukrainians, as Forbes estimates that the deal could be worth between $50 million and $100 million. And while at first glance it may seem like just another business deal, it is worth taking a closer look at who is behind the deal and what implications it may have for the Ukrainian market.

Kyivstar: Russian interests in the Ukrainian market

What is particularly disturbing about this story is that Kyivstar is owned by a Russian oligarch with Ukrainian roots, Mikhail Fridman. He is the owner of the Luxembourg-based investment company LetterOne, through which he controls 47% of the shares of the Dutch company VEON, which owns Kyivstar. Another 8% of VEON’s shares are controlled through The Stichting fund, which allows LetterOne to control the entire majority of shares.

This fact is particularly disturbing in the context of the political situation and relations between Ukraine and Russia. This corporate ownership seems to be a reminder of the presence of Russian capital on the Ukrainian market, despite numerous statements about its absence.

Not long ago, Kyivstar raised tariffs for its services and reported record profits. In a situation where the mobile operator is raising prices again, it can be assumed that its ties with Russia are not only maintained, but also allow it to continue to profit from the Ukrainian market. And now, a new step: the purchase of one of the largest Ukrainian online taxi services, Uklon. It is possible that over time, this business will become one of the tools for further expanding Russia’s influence on Ukraine’s economy and infrastructure.

Slope and night mode: business or violation?

It is known that Uklon has initiated the resumption of night work after it was temporarily suspended due to curfew restrictions. The platform has signed an agreement with the Lviv authorities to allow the resumption of nighttime operations, which allows drivers to work even after 23:00.

According to various sources, there are suspicions that in other regions the company receives special passes for its drivers that allow them to violate the curfew. The question arises: Isn’t this another attempt to circumvent legal restrictions, especially given the large business interest behind this platform?

Uklon’s offshore roots: tax schemes or legitimate practice?

What is also worth noting is the offshore roots of Uklon. The main owner of the trademarks and other intangible assets is the Cyprus-based company Uklon Ltd., which allows it to minimize taxes in Ukraine.

Although registration in Cyprus is a common practice for many Ukrainian businessmen who want to avoid paying taxes in their home country. Isn’t this another confirmation that the real owners of the company are not interested in developing Ukraine’s economy, but only in maximizing their profits through tax optimization?

Another interesting detail concerns the legality of Uklon’s activities. The latter positions itself not as a taxi company, but as a “platform for connecting drivers and passengers,” thus evading the mandatory license for taxi services. The state registers do not have a corresponding KVED code for the provision of such services, which may indicate a tax evasion scheme.

According to our materials, the Shevchenkivskyi Department of the Main Department of the National Police in Kyiv registered a pre-trial investigation under Part 1 of Article 364 of the Criminal Code of Ukraine with the URPTI No. 12024100100002061, and the Pechersk District Prosecutor’s Office in Kyiv registered a pre-trial investigation under Part 2 of Article 364 of the Criminal Code of Ukraine with the URPTI No. 42024102060000075. At the same time, the state authorities have not yet made any official statements or actions, which casts doubt on the effectiveness of the investigation. Could this be another attempt to “pretend that nothing has happened” or have officials simply turned a blind eye to potentially large-scale tax evasion schemes?

If Kyivstar and Uklon do merge, it could not only signal a strengthening of Russian business positions in Ukraine, but also pose a threat to Ukrainian consumers, who may find themselves under pressure from large, unscrupulous corporations. We have already seen how these companies can manipulate laws, raise tariffs, and ignore the safety and legality of their operations.

Are you ready to support companies linked to Russian interests, even if they operate under the guise of “Ukrainian”?

Did you witness a crime?

Let us know about it. We will help protect the violated rights!

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