Austria’s EPIC has transferred the full price of Hr10.5751bn (US$1.3bn) for the acquisition of 92.79% of Ukrtelecom, Kyiv Post reports quoting a statement from Ukraine’s State Property Fund.
The first payment of Hr4.2375bn (US$530.7m) was reportedly made…
Austria’s EPIC has transferred the full price of Hr10.5751bn (US$1.3bn) for the acquisition of 92.79% of Ukrtelecom, Kyiv Post reports quoting a statement from Ukraine’s State Property Fund.
The first payment of Hr4.2375bn (US$530.7m) was reportedly made on 8 April.
Last December, EPIC Services Ukraine (ESU) emerged as the sole bidder for the stake, offering Hr10 (US$1.25) above the minimum price of Hr10.5bn (US$1.3bn).
As there was only one bid, the authorities were legally obliged to hire an independent adviser to value the stake. After completing its review with the help of consulting firm Ostrov, the SPF made a formal offer to EPIC at Hr10.5751bn, Hr75.1m (US$9.4m) more than its bid, which EPIC accepted.
In an interview with TelecomFinance last January, EPIC managing partner Peter Goldscheider denied rumours that his company was fronting local companies or other international operators.
Fixed-line incumbent Ukrtelecom is the only operator to hold a 3G licence.
