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Ukrainian president signs legislation for privatization of telecom giant Ukrtelekom

Ukrainian president signs legislation for privatization of telecom giant Ukrtelekom

Ukrainian President Viktor Yushchenko signed legislation Friday to privatize telecom giant Ukrtelekom.
The sale of Ukrtelekom, in which the government holds a 92.9 percent stake, has been repeatedly postponed. But both Yushchenko and Prime Minister Viktor Yanukovych now support holding an open, public auction for the company sometime this year.
The Transport and Communications Industry predicted that a 50 percent stake could go for at least US$3 billion (euro2.5 billion) at auction, though analysts forecast it would probably fetch much less.
Analysts have said much of Ukrtelecom's equipment is outdated, making the company less attractive to investors.
In 2005, the government sold off the flagship steel mill Kryvorizhstal, netting US$4.8 billion (euro4.1 billion) in the country's biggest and most profitable privatization auction to date.


Updated : 2021-05-12 15:22 GMT+08:00