Privatization of Odesa Portside Plant postponed again

The Cabinet of Ministers postponed the privatization of a 99.5% stake in Odesa Portside Plant for about a month, Alexander Turchinov, First Vice-President said yesterday. The privatization tender was scheduled for May 20 and was blocked by the President. In another story, Ukrainian News reported that the Cabinet, by its ruling as of May 16, took over from the State Property Fund the responsibility to manage state-owned stakes in Odesa Portside Plant, Turboatom (TATM: BUY) and Ukrtelekom (UTEL: HOLD), which all are on 2008 privatization list. Vladimir Nesterenko: Political developments in the country point that Timoshenko is likely to resign by September-October this year, or even earlier. This means that the possibility that Odessa Portside is sold over the nearest months is minimal, the whole privatization process appear likely to be continued by the next government.