Kyiv Administrative Court blocks sale of 3 Oblenergo stakes

A Kyiv district administrative court ruled on Friday to temporarily block the sale of stakes in three Oblenergos by the State Property Fund – Poltavaoblenergo (POON), Prykarpatoblenergo (PREN) and Sumyoblenergo (SOEN). The auctions for ~25% stakes in each Oblenergo have been postponed on a weekly basis since May as the SPF has been unable to field any bidders. The case against the privatization was initiated by Valentina Semenyuk-Samusenko, a former SPF head and presidential candidate. Yegor Samusenko: We do not believe Semenyuk-Samusenko will succeed in blocking these privatization auctions; the successful sale of stakes in these companies has already been stalled: potential bidders seem to be waiting for the SPF to lower the starting price for Poltavaoblenergo, Prykarpatoblenergo and Sumyoblenergo – which it has consistently stated it was not prepared to do.