Ukrainian incumbent Ukrtelecom is to be sold for a minimum of UAH12bn (US$1.5bn), according reports citing a statement by the country’s State Property Fund.
Media reports cited by local adviser Millennium Capital describe the price as very close to the…
Ukrainian incumbent Ukrtelecom is to be sold for a minimum of UAH12bn (US$1.5bn), according reports citing a statement by the country’s State Property Fund.
Media reports cited by local adviser Millennium Capital describe the price as very close to the telco’s UAH10.6bn market cap.
Earlier this year, local press reports said that the state was planning to sell a 92.79% stake in Ukrtelecom in August.
The privatisation of the telecoms incumbent has been expected for many years, but the political environment has so far prevented any transaction from taking place.
Ukrtelecom was the only operator to receive a 3G licence in 2005, doing so without an auction, which caused anger among privately-owned mobile operators Astelit, MTS Ukraine, URS and Kyivstar. It is widely believed that the Ukrainian authorities are reluctant to grant other mobile operators a 3G licence because Ukrtelecom received its licence with a view to dressing it up for privatisation.
