SPF Prepares Placement of 37.86% of UTEL on LSE

According toDmytro Parfenenko, Deputy Head of the State Property Fund (SPF) of Ukraine, the draft of the government’s decree that stipulates the procedure of placing a 37.86% stake in Ukrtelecom (UTEL: HOLD) on the London Stock Exchange has been prepared by the SPF. According to the draft, a special state commission will be created to select a lead manager for the placement. Parfenenko also announced that a 1% stake in Ukrtelecom will be put back up for sale on the PFTS on June 15. Previous tenders scheduled for May 22, May 29, June 5 and June 8 failed due to a court ban or lack of bidders.