12:45 18.06.2015

Parliamentary ad hoc privatization commission mulls returning Ukrtelecom to state ownership

1 min read
Parliamentary ad hoc privatization commission mulls returning Ukrtelecom to state ownership

The parliamentary ad hoc commission for privatization on Wednesday discussed the return of public joint-stock company Ukrtelecom, which is currently under the control of Rinat Akhmetov's SCM, to state ownership, commission member and Batkivschyna MP Ihor Lutsenko has said.

"To revoke the agreement on the basis of the non-fulfillment of investment conditions – [to get] money back and Ukrtelecom back," he wrote on his Facebook page.

The lawmaker added that People's Front member Ihor Lapin was a rapporteur on the issue.

Lutsenko said that if Ukrtelecom is returned to state ownership the company could be privatized again at an open and transparent tender.

As reported, Ukraine's State Property Fund in 2011 sold 92.79% of Ukrtelecom's shares to ESU LLC, the Ukrainian subsidiary of Austrian-based EPIC, for UAH 10.575 billion. The deal was closed in May 2011.

SCM Holding and Austria's EPIC Group on October 4, 2013, finalized a deal on the sale and purchase of 100% of the shares in UA Тelecominvest Limited, which holds 100% in ESU LLC, which in turn holds 92.79% of the shares in Ukrtelecom.

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