Ukrtelecom Privatization Law Suspended.
6 July 2008
TheParliament approved the suspension of a law on the privatization of Ukrtelecom (UTEL: HOLD), until the government has approved its new privatization program. Concorde Capital: The law would have placed limitations on activities by UTEL’s management, including banning them from divesting assets and optimizing its workforce. The company’s management is now free to restructure the UTEL to reduce its operating costs and increase the company’s value before privatization.
