Cabinet to Sell 67.8% of Ukrtelecom in 2008
16 January 2008
According to the press-secretary of the State Property Fund of Ukraine, the Cabinet of Ministers included a 67.8% stake in Ukrtelecom (UTEL: HOLD) in the draft list of objects for privatization in 2008. The list could be approved by the government today. According to the draft, 25% of Ukrtelecom would remain in state hands, 60% would be sold to a strategic investor via a tender, and 7.8% would be placed on stock exchanges. Alexander Paraschiy: Approval of Ukrtelecom’s privatization to a strategic investor could become a long awaited catalyst for the stock, making it break its historical price maximum of USD 0.25.
