Ukrtelecom to reach amicable deal on Oschadbank debt

Ukraine’s leading fixed line telecom operator
Ukrtelecom (UTLM UK) and Oschadbank (OSCHAD) are working to reach an amicable
agreement on the company’s debt, Interfax-Ukraine reported on Dec. 3, citing
the Ukrtelecom press service. Recall, the bank managed to arrest 93%
of Ukrtelecom shares (indirectly owned by the SCM group of Rinat Akhmetov) in
August as part of its attempt to recover debt with a face value of UAH 1.1 bln.

Alexander Paraschiy: This is an expected event after SCM reached a settlement on a larger Ukrtelecom-related debt with Raga,
which paved the way for Uktelecom’s owner to negotiate debt issues with other
creditors. The news looks encouraging for Ukrtelecom and neutral for
Oschadbank.