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Yushchenko Says Nothing Can Stop Kryvorizhstal's Privatization.

Yushchenko Says Nothing Can Stop Kryvorizhstal's Privatization.

19 October 2008

Yushchenko Says Nothing Can Stop Kryvorizhstal’s Privatization. According to the President, the Verkhovna Rada’s attempt to block Kryvorizstal’s (KSTL: SELL) privatization is not an obstacle. Yesterday, the Rada passed two draft laws in the first reading that would block the sale of a 93.02% stake in Kryvorizhstal. Additionally, the Rada adopted a resolution that recommends the government suspend Kryvorizhstal’s privatization until the next Parliamentary elections in March 2006. Like the President, Prime Minister Yekhanurov also said he believes the privatization tender will occur as scheduled on October 24. The State Property Fund does not plan to suspend Kryvorizhstal’s sale. Concorde Capital: These statements confirm our opinion that the tender for Kryvorizhstal’s privatization will be held as scheduled. However, there is a good chance this legal turmoil will lower the final price.

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