SPF takes Ukrtelecom to court over 2007 dividends

Ukraine’s State Property Fund filed a suit in the Kyiv Economic Court in order to force Ukrtelecom (UTLM) to pay out dividends for 2007, Interfax said yesterday. The SPF’s press service said that it filed the case on August 13 and that so far a hearing has not been scheduled. Ukrtelecom posted a profit in 2007 of UAH 267.2 mln. Yegor Samusenko: Ukrtelecom owes UAH 74 mln in 2007 dividends to the state. If the court forces Ukrtelecom to pay up, it would weigh on the company’s liquidity. However, the impact should not be severe, since as of June 31, Ukrtelecom had about UAH 676 mln in cash.