Last Friday, the State Property Fund of Ukraine (“SPF”) officially announced its plans to sell 92.79% of the stock of Ukrtelecom. SPF has attempted and failed on a number of occasions since 1997 to sell the national fixed communications incumbent. According to the press, the government plans to cash in around 12 billion UAH (approx. €1,1 billion) from the privatization proceeds.
The shares of stock are planned to be sold at auction. SPF also invited interested parties to participate in drafting the terms of the sale of the stock.