The Cabinet of Ministers approved the starting price of sale of 92.79% of shares in Ukrtelecom, Ukraine’s largest telecommunications company, at UAH 10.5 billion, State Property Fund Chairman Oleksandr Riabchenko has announced to the press.
“Tomorrow we’ll place an announcement in Vidomosti Pryvatyzatsiyi ['Privatisation Journal', the Property Fund's official newspaper]. The starting price ten point five billion hryvnias,” he said.
The Fund Chairman says the Cabinet at its Tuesday session approved the tender conditions of the sale of the state’s Ukrtelecom shareholding.
Riabchenko did not announce the companies the Fund expected to bid for Ukrtelecom.
The State Property Fund announced in early August its plans to privatise 92.8% of the shares in Ukrtelecom in September.
Ukrtelecom occupies 78.5% of the fixed-line telephony market in Ukraine and provides services to 9.9 million subscribers.