The independent adviser hired by the Ukrainian government has valued the 92.79% stake in Ukrtelecom put up for sale at Hr10.575bn (E968m), which is close to the auction starting price, Reuters reports quoting a source close to the deal.
In December, Epic…
The independent adviser hired by the Ukrainian government has valued the 92.79% stake in Ukrtelecom put up for sale at Hr10.575bn (E968m), which is close to the auction starting price, Reuters reports quoting a source close to the deal.
In December, Epic Services Ukraine was the sole bidder for the stake in the telecoms incumbent, offering Hr10 (E0.9) above the minimum price of Hr10.5bn (E561m).
As there was only one bidder, the authorities appointed an independent adviser to assess the valuation of the company.
The newswire said that the state property fund could not confirm the price.
Ukrtelecom’s creditors, Credit Suisse and Deutsche Bank, reportedly asked for the early repayment of the US$222m balance of a US$500m loan raised in 2005 because of the change of ownership. A US$56m portion would be due on February 25 and the rest by May 25. Ukrtelecom would be in negotiations to retain the initial repayment timetable for 2012.
