Ukrtelecom's Financial Plan Adopted, AGM To Wrap Up Tomorrow.
9 June 2008
After more than two-months of discussions, theMinistry of Finance, Ministry of Communications and State Property Fund agreed to adopt Ukretelecom’s (UTEL: BUY) financial plan for 2006. The key parameters are: planned revenue of USD 1.64 bln and planned net income of USD 92 mln. The plan also foresees the investment of USD 120 mln in mobile network development. We expect the AGM, which will resume tomorrow, to adopt the government’s plan. Concorde Capital: The government’s failure to adopt UTEL’s plan has kept the AGM for finishing. The meeting started on April 26 and we expect it to come to an end tomorrow.. Another important question, on when and how to privatize UTEL, remains open and is expected to left for the new government.
