Ukrtelecom 1% Stake To Be Offered Again June 8
6 June 2008
The State Property Fund (SPF) has announced plans to offer a 1% stake in Ukrtelecom (UTEL: HOLD) on June 8 by exploiting a loophole in the Kyiv Economic Court’s decision that prohibited the sale from taking place on May 22. The starting price for the June 8 auction will not change (USD 0.23 per share). Privatization of a 1% stake that was scheduled for yesterday, failed to take place. According to the SPF, participants failed to back up their bids with a guarantee letter. Another 1% stake also failed to sell on May 29 due to lack of bids.
