Ukrtelecom head to keep his post, says EPIC

Board Chairman of OJSC Ukrtelecom Heorhiy Dzekon will continue holding his post after the change in the company's ownership, Peter Goldscheider, a managing partner of Austria's EPIC, the company that bought Ukrtelecom, said at a press conference at Interfax-Ukraine on Tuesday.

"Heorhiy Dzekon will remain. One of the main reasons for buying Ukrtelecom for me was [our] trust and confidence in some key people," Goldscheider said.

He added that he intends to head the supervisory council of the company.

According to him, the restructuring process will take three or five years, but he refused to state the volume of investment or any specific plans. According to him, the investor, first of all, needs to close the deal, which is expected to be completed on May 11, and then hold a meeting of shareholders. Only then will it announce plans, he said.

Goldscheider reported that loan funds were used in the purchase of Ukrtelecom, but he refused to name the banks from which the funds were attracted.

Asked about the possible terms for the resale of Ukrtelecom, he did not rule out that the operator could perform an IPO in the future.