The DVL group, which includes lifecell, Datagroup-Volia, and Ukrtower, continues large-scale investments in Ukraine’s telecom infrastructure, focusing on network energy resilience, PON development, and preparations for future 5G deployment. According to DVL CEO Mykhailo Shelemba, one of the first decisions by the new shareholders after acquiring lifecell in 2024 was to allocate $20 million for batteries for base stations. This forms part of a broader investment program under which the group previously announced plans to invest more than $100 million annually, and also secured $435 million in international financing from the EBRD and IFC to support the development and modernization of telecom infrastructure in Ukraine.
A separate investment priority remains increasing the energy autonomy of the lifecell network during blackouts. According to DVL, total investments in the energy resilience of the mobile network have already exceeded UAH 2 billion, while in 2024 the group purchased nearly 33,000 lithium batteries to ensure stable operation of base stations during prolonged power outages.
At the same time, DVL continues investing in the modernization of its fixed network infrastructure. Since the beginning of 2025, the group has invested nearly $2 million in migrating its network to PON technology, connecting 2,742 residential buildings. In 2026, the company plans to invest an additional UAH 80 million in the development of energy-resilient fixed networks and build PON coverage for 175,000 apartments across 2,265 multi-apartment buildings.
At the same time, the company maintains a cautious approach to new directions, avoiding capital-intensive projects with long payback periods outside its core business. For example, DVL tested solar power plants for base stations, but concluded that investments in batteries, generators, and network infrastructure provide higher efficiency than investing in its own electricity generation. This strategy reflects the company’s intention not to pass excessive CAPEX onto subscriber tariffs.
Regarding 5G, DVL confirms its readiness to participate in future deployment but notes that the rollout will require hundreds of millions of dollars in investment. According to company estimates, a single 5G base station costs about $50,000, roughly twice the cost of 4G equipment. At the same time, lifecell has already signed a strategic agreement with Ericsson to develop its core network, although full-scale investments in 5G will depend on government policy and the terms of the future frequency tender.
Amid the active investment program, lifecell finished 2025 with revenue growth: the operator’s revenue increased 18.7% to UAH 15.9 billion, while profit reached nearly UAH 6 billion. However, the group expects single-digit growth in 2026, citing rising electricity prices and increasing costs associated with maintaining and developing network infrastructure.
