Frinet JSC (O3 brand), a national broadband internet provider that has been part of VF Ukraine (Vodafone Ukraine brand), Ukraine's second-largest mobile operator, since 2023, is fully merging as of September 1 with fixed telephony, internet, and international voice and IP traffic provider Farlep-Invest PJSC (VEGA).
Frinet announced the move on its website, saying internet and TV services will be provided by Farlep-Invest PJSC under the Vega or Vodafone brand, depending on the network.
"We continue working for you, ensuring high-quality connections and speeds," the company said.
In February of this year, Frinet reorganized, converting from a limited liability company (LLC) into a joint-stock company (JSC).
According to YouControl, Frinet LLC's authorized capital stood at UAH 161.875 million as of the end of September 2025, with equity of UAH 262.816 million.
The company's revenue fell 5.2% year-on-year in the first nine months of last year, to UAH 223.23 million, while it posted a net loss of UAH 0.76 million, compared with net profit of UAH 25.43 million in the first nine months of 2024.
As reported, Vodafone Ukraine acquired a 90.6% stake in Frinet LLC's authorized capital in 2023 for UAH 746 million, later raising its stake to 100%.
Frinet LLC has operated on the market since 2008, building its networks using FTTx technology with 10- and 40-gigabit fiber-optic backbones and modern managed equipment from leading manufacturers, which the company says allows it to provide each subscriber with an internet connection speed of up to 1 Gbps.
The company provides services in Kyiv and Dnipropetrovsk, Zhytomyr, Zaporizhia, Ivano-Frankivsk, Lviv, Kyiv, Rivne, Khmelnytskyi and Chernihiv regions, and claims more than 150,000 subscribers.
VF Ukraine, in turn, owns a 99.99% stake in Farlep-Invest PJSC (VEGA).
