Delay to Epic's purchase of Ukrtelecom no big drama

9 Mar 2011

Epic Services Ukraine (ESU), a subsidiary of Austrian investment fund Epic, did not sign a purchase agreement on the scheduled date on 4 March 2011 to buy a 92.79% stake in Ukraine’s state-owned national telecoms operator Ukrtelecom, but the deal remains on course to be completed in the next few days, according to Ukrainian news agency LigaBusinessInform. No further details were revealed, but Epic previously said it would complete the UAH10.58 billion (USD1.32 billion) purchase sometime in March once it had finalised agreements with banks to finance the transaction. Epic was the sole bidder in Ukrtelecom’s privatisation auction in December.

Ukraine, Ukrtelecom (incl. TriMob)