Privatization of the state-owned stake
of Ukrtelekom JSC is included in the Monthly Asset-by-Asset
Privatization Schedule for July-December 2010 ratified by the State Property
Fund of Ukraine. Under the Decree of the Cabinet of Ministers of Ukraine, the State
Property Fund of Ukraine announced the holding of a competitive tender for a
sale of the state-owned stake of Ukrtelekom JSC,
which totals 92,791% of the authorized capital.
Oleksandr Riabchenko, Head of the State Property Fund of Ukraine, informed the attendants that the initial cost of the equity stake totaled UAH 10,5 billion. However, according to the report on valuation of the state-owned stake of Ukrtelekom JSC at market prices executed by CJSC "Consulting Firm "Ostriv" (valuator), the state-owned stake of Ukrtelekom JSC costs at least UAH 10,575 billion. The Head of the State Property Fund of Ukraine informed that the Fund addressed ESU LLC as a single participant of the tender with a suggestion to purchase the stake at the latter price.
The members of the Panel doubt that the initial price for the state-owned stake of Ukrtelekom JSC fixed at UAH 10, 5 billion met the state interests.
Having listened to the report of the State Property Fund of Ukraine, the Panel decided to take it into consideration, and obliged the State Property Fund of Ukraine to present reports and copies of the appraisal reports of the state-owned stake of Ukrtelekom JSC for the years 2010 and 2008 by March 1, 2011. The State Property Fund of Ukraine shall report on the sale of stake of Ukrtelekom JSC within a month after its completion.