Ukrtelecom Board To Decide On Privatization By End Of May?

Prime Minister Yuriy Yekhanurov has directed the supervisory board of Ukrtelelecom (UTEL: BUY) to study the possibility of UTEL’s privatization and to work out a plan for the company’s enhanced capitalization. Yekhanurov expects the plan to be ready by the end of May 2006. Concorde Capital: The decision whether or not to privatize UTEL is unlikely to be approved by the end of May, as in May-June we expect the arrival of the government, which means UTEL Board members are likely to wait until the new Cabinet of Ministers is created. Still, we expect positive news on the company’s privatization this summer.