Court withdraws freeze on Ukrtelecom’s TriMob shares

19 Jul 2017

The Kiev Court of Appeal has withdrawn the ‘arrest’ of the 100% stake in 3G mobile operator TriMob (3Mob) held by nationwide telco Ukrtelecom, having upheld a complaint from the latter, after the company’s corporate rights over the shares were effectively frozen in April by order of Pechersk District Court of Kiev, BizLiga reports. TriMob is preparing to host Ukraine’s first major foreign-backed MVNO, Lycamobile, which recently obtained the necessary regulatory permissions to launch services in the country.

Under the April court judgement, the controlling shares in Ukrtelecom held by domestic conglomerate SCM remain frozen, in relation to an investigation into previous alleged misappropriation of state funds, focusing on possible embezzlement connected to Ukrtelecom’s original privatisation in 2011 during the presidency of Viktor Yanukovich (who went into exile in Russia in 2014).

Ukraine, Ukrtelecom (incl. TriMob)