Communications Minister says Ukrtelecom should be sold for at least USD 1.5 bln

Ukraine’s Minister of Transportation and Communications Josyp Vinsky, in an interview with newspaper Delo, spoke in favor of Ukrtelecom’s (UTEL) privatization in 2009. According to Vinsky, Ukrtelecom should be sold for no less than USD 1.5 bln. Deputy Prime Minister Alexander Turchinov said in late October that the Cabinet of Ministers was considering using proceeds from privatizing Ukrtelecom as a key financial source for the government’s economic stabilization plan. Alexander Paraschiy: Vinsky’s “starting price” is 37% lower than the starting price announced by the government in April 2008. Still, the new starting price represents a 177% premium to the current market price.