Ukrainian nationwide telco Ukrtelecom has been ordered by the Supreme Court to pay domestic bank Oschadbank UAH1.5 billion (USD59 million) in debt and interest, Mediasat reported. The debt stemmed from Ukrtelecom’s failure to pay back a UAH1 billion bond. The apex court overturned previous decisions in the telco’s favour from the Kyiv Economic Court and an appeal court. TeleGeography notes that Oschadbank and UkrEximbank filed claims against Ukrtelecom and its parent SCM for failing to fulfil a 2015 pledge to buy out the UAH2 billion bonds of the telco’s holding company ESU, after SCM took control of Ukrtelecom in 2013.
Ukrtelecom reported that its consolidated group revenues in H1 2019 were stable year-on-year at nearly UAH3.3 billion, including total telecommunications sector revenues accounting for UAH2.8 billion. Fixed internet access revenues in January-June 2019 rose 8.2% y-o-y to UAH882 million including consumer internet (up 8.1% to UAH698 million) and B2B internet (up 8.6% to UAH184 million). Ukrtelecom now covers a total of 2,300 settlements with broadband services, and it deployed an additional 1,400km of fibre-optics in the first half of 2019 under telecoms infrastructure CAPEX which rose 67% to UAH362 million in the period.