Epic officially confirms Ukrtelecom purchase

21 Feb 2011

Ukraine’s State Property Fund (SPF) announced on Friday that Epic Services Ukraine (ESU), a subsidiary of Austrian investment fund Epic, has officially confirmed its intention to acquire a 92.79% stake in national telecoms operator Ukrtelecom, for UAH10.58 billion (USD1.32 billion). The SPF stated that it believes the deal will close by Friday 25 February, whilst as previously reported in CommsUpdate, Epic has said the transaction will be completed in March pending talks with banks to finance the purchase.

Ukraine, Ukrtelecom (incl. TriMob)