Ukrtelekom privatization suspended

23 Aug 2004

The Ukraine’s President Leonid Kuchma has suspended the privatization of state-owned telco Ukrtelekom, without giving a reason for his decision. It is not known when the privatization process will restart, but there is speculation that the government will wait until after the presidential election on 31 October. It had planned to sell a 42.86% stake in the company for around USD800 million.