Cabinet Approves List of Companies to Be Privatized

Yesterday the Cabinet approved the list of 28 companies to be privatized over 2008. Particularly, the government intends to sell a 67.8% stake in Ukrtelecom (UTEL: HOLD), 60% of which will be sold to a strategic investor. The list also provides for the privatization of Turboatom (TATM: BUY) and 25% stakes in six oblenergos: Lvivoblenergo (LVON: U/R), Prykarpatoblenergo (PREN: HOLD), Sumyoblenergo (SOEN: N/R), Chernihivoblenergo (CHEON: SELL), Odesaoblenergo (ODEN: N/R), and Poltavaoblenergo (POON: SELL). The list includes the Odesa Portside Plant, even though the new government banned previous regulation that would have privatized it. According to the Cabinet’s press service the list will be published within the current week.