Controlware Eyes 51% Of Ukrtelecom's Infocom.

Infocom’s CEO that a German company, Controlware (which already possesses 43% of Infocom) is ready to buy Ukrtelecom’s (UTEL: HOLD) 51% stake in the company. Concorde Capital: At UTEL’s last AGM, shareholders instructed the company’s supervisory board to consider the possibility of Infocom’s divestment. Thus, if Controlware agrees to buy Infocom, the deal is likely to take place. At the moment, no decision has been made by UTEL’s supervisory board. Infocom is one of UTEL’s smallest subsidiaries (less than 1% of UTEL’s consolidated sales), but it possesses a nation-wide data package network, which is valuable asset for Ukrtelecom. We doubt Infocom will be sold with UTEL’s privatization on the horizon.