The State Property Fund expects that the starting price for the 93.02% stake in the Ukrtelecom telecommunication company will be over UAH 12 billion in case the privatization auction is invited, chairman of the SPF Oleksandr Riabchenko told a press conference.
Riabchenko also said that the SPF is ready to launch required procedures to privatize Ukrtelecom and is anticipating Cabinet of Ministers’ decision on transfer of the stockholding from the Transport and Communication Ministry’s control under the control of the SPF.
The chairman of the SPF expects that the government can take this decision soon as none of the interested bodies opposes the privatization of Ukrtelecom.
He added that in September, the SPF will not manage to hold the tender.
Riabchenko estimates the capitalization of the state stockholding of Ukrtelecom at UAH 10.4 billion.
As Ukrainian News earlier reported, in May, the State Property Fund intended to auction off the 92.8% stake in August.
In early August, the SPF intended to put up for sale the 92.8% stake in Ukrtelecom in September.
Ukrtelecom finished the first half of 2010 with a net profit of UAH 47.973 million.
The company boosted its net revenues by 3.3% or by UAH 108.362 million in the first half of 2010 over the same period of 2009, to UAH 3,402.463 million.
Ukrtelecom finished 2009 with a loss of UAH 456.4 million.
The company boosted its net revenues by 3.39% or by UAH 225.202 million in 2009 over 2008, to UAH 6,870.931 million.
Ukrtelecom has a 78.5% share of the fixed-line telephone market in Ukraine and provides services to 9.9 million subscribers.
