Epic Services Ukraine (ESU) was confirmed as the sole bidder for Ukraine’s 92.79% stake in Ukrtelecom, according to media reports
Ukraine’s State Property Fund has reportedly officially received the sole bid at a minimum price of Hr10.5bn (E988m) plus a…
Epic Services Ukraine (ESU) was confirmed as the sole bidder for Ukraine’s 92.79% stake in Ukrtelecom, according to media reports
Ukraine’s State Property Fund has reportedly officially received the sole bid at a minimum price of Hr10.5bn (E988m) plus a nominal Hr10 (E0.9), while the state tender commission has approved ESU’s Hr450m (E42.3m) investment plan over five years. The plan reportedly aims to strengthen Ukrtelecom’s dominant fixed-line market position and develop its broadband internet business. However, it remains uncertain what would happen with Ukrtelecom’s 3G business, which reports suggest could be sold.
Before the transaction is finalised, an independent evaluation of the price must be conducted for a 30-day period. The independent assessor will be selected on January 6.
Russian group Sistema, which owns MTS Ukraine, and local firm SCM, which owns fixed-line operator Vega and co-owns mobile operator Astelit, were mentioned last year as the most likely buyers for Ukrtelecom, but they finally did not bid.
ESU is the Ukrainian subsidiary of Austria’s EPIC.
The parties were not immediately available for comment.
