Ukrtelecom Selects Ukreximbank To Attract USD 25 Million

Ukrtelecom, the largest Ukrainian telecommunication company, has selected the Ukrainian Export-Import Bank (Ukreximbank) that ranks among the largest Ukrainian banks, to attract a loan of USD 25 million.

The agreement was signed on February 25.

As Ukrainian News earlier reported, Ukrtelecom, the largest telecommunications company in Ukraine, ended the period of October-December 2010 with losses of UAH 196.112 million.

The company’s net revenues decreased by UAH 222.42 million or 11.72% to UAH 1,675.283 million in the fourth quarter, compared with the corresponding period of 2009.

Ukrtelecom ended 2010 with losses of UAH 258.757 million, having reduced net revenues by UAH 115.452 million or 1.68% to UAH 6,749.304 million compared with 2009.

Ukrtelecom ended the period of July-September with losses of UAH 110.628 million, having decreased by UAH 1.394 million or 0.1% to UAH 1,671.558 million in the third quarter, compared with the corresponding period of 2009.

The company ended 2009 at a loss of UAH 456.4 million. Its net revenues during this period increased by UAH 225.202 million or 3.39% to UAH 6,870.931 million, compared with 2008.

Ukrtelecom has a 78.5% share of the fixed-line telephone market in Ukraine and provides services to 9.9 million subscribers.

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