Court decision underlines Ukraine’s determination to privatise incumbent

22 Nov 2010

The Kyiv City Economic Court has issued a ruling prohibiting anyone from hindering the State Property Fund (SPF) and other state bodies in proceeding with the privatisation of Ukrtelecom. As previously reported in CommsUpdate, an auction of the government’s 92.8% stake in the national PTO is scheduled for 28 December 2010 with an initial bid price of UAH10.5 billion (USD1.3 billion). According to Ukraine-based Millennium Capital, the court action was taken as a precaution against potential lawsuits, the likes of which have blocked or hampered previous planned sales of shares in Ukrtelecom and various other state assets; among the most recent examples cited are Luhanskteplovoz and Odessa Portside Plant.

Ukraine, Ukrtelecom (incl. TriMob)