Telesystems' assets seized by bank

30 Oct 2018

Kyiv-based bank Bank Sich has obtained a court order to seize telecoms equipment and bank accounts of struggling operator Telesystems of Ukraine due to unpaid debts, reports The Kyiv Economic Court made the ruling based on a defaulted 2013 loan agreement of UAH11.2 million (USD400,000). Once a nationwide CDMA wireless network operator, Telesystems’ PEOPLEnet-branded CDMA mobile service reach has been cut down to just two regions of Ukraine since last year, whilst the company also offers fixed line, broadband and IP/SIP telephony, although the coverage footprint of these services has also been shrinking.

Ukraine, Telesystems of Ukraine (PEOPLEnet)