Published: 10.36 Europe/London, May 11, 2011
The privatisation of the Ukrainian incumbent telco Ukrtelecom has been completed.

Quoting the Ukrainian State Property Fund (SPF), Kyiv Post reports that Austria’s Epic has paid UAH10.5751 billion to the Fund as payment for a 92.79% stake in Ukrtelecom.

The first part of the payment, amounting to UAH4.2375 billion, was made on April 8, and Epic also earlier paid a tender deposit of UAH1.05 billion.

The privatisation of Ukrtelecom was mooted for several years before a tender was finally held last October, with the SPF setting a minimum price of UAH10.5 billion.

Significantly SPF will still have to approve any future sale of the telco.