Ukriane's Telecom Minister Wants To Sell 25% Of Ukrtelecom.

Acting Minister of Transport and Communications Viktor Bondar has suggested that the privatization of Ukrtelecom (UTEL: BUY) be divided into two stages. In the first stage (2006-2007) 25% of the company would be sold at about EUR 1 bln. The raised money would be directed to increase UTEL capitalization. Afterwards, (in 2-3 years) the state would sell the remaining 68%. Concorde Capital: At the moment it is not clear whether the Cabinet will support Bondar’s idea. We expect additional news on UTEL privatization strategy after tomorrow’s AGM. On April 26 UTEL’s shareholders (the state) voted to put off voting on the company’s financial plan until May 30. The financial plan adopted by the government foresees USD 83 mln net income (10% decrease yoy).