KrymTelekom sells for RUB998m

2 Jan 2019

The Ministry of Property and Land Relations of the Crimea has completed the sale of its 100% stake in regional telco KrymTelekom to the Managing Company of Infrastructure Projects (UKIP) for RUB998 million (USD14.3 million). According to local news outlets, two bidders participated in the auction for the operator, which had previously been valued at around RUB1.3 billion. KrymTelekom launched mobile services in the Russian-occupied Crimea peninsula in February 2016, utilising assets appropriated by local authorities from Ukrainian operator Ukrtelecom, which ceased operations in the region in February 2015.

Russia, KrymTelekom