SCM has not provided additional guarantees to ESU LLC for the issued bonds of Ukrtelecom, ESU is solely responsible for debts to the state banks of Ukraine.

"Until the property issue is not resolved, the issue of debts to state banks will not be solved. ESU LLC is the only company that is responsible for debts to the state banks on the bonds it issued. But without the key asset in its ownership - without Ukrtelecom - ESU will not be able to fulfill debt obligations to state-owned banks, which remain from the previous owners - Raga/EPIC," the SCM director for international and investor relations, Jock Mendoza-Wilson, told the Kyiv-based Interfax-Ukraine news agency.

He stressed that SCM also did not act as a guarantor for the loan of the Chinese state bank to Ukrtelecom.

"There were no additional guarantees or commitments from SCM for this loan - only from Ukrtelecom. Neither on bonds to Ukrainian state banks nor Chinese loans," the director said.

He also noted that, despite legal proceedings, Ukrtelecom continues to operate as normal.