Yushchenko Puts UNAF Back On The Auction Block.

President Viktor Yushchenko vetoed a law banning the banning the privatization of the state’s 50%+1 stake in Ukrnafta (UNAF: HOLD) until 2009. In reviewing the law Yushchenko noted that the Rada was required to work with the Cabinet in choosing which companies were to be privatized, and in this case they did not. Concorde Capital: Yushchenko has been playing a cat-and-mouse game with the Rada on the privatization of several large government holdings since taking office. The Rada has been very resourceful in its attempts to block the privatization of key companies like UNAF, and unless Our Ukraine is able to implement a complete shift in the attitude of the new Rada, which currently looks unlikely, we believe these games will continue in the mid-term.