Ukrtelecom privatisation draws nearer

According to local reports, the incumbent Ukrainian telco Ukrtelecom is attracting the interest of Russia’s Sistema. Following a law passed on January 11 that lifted the ban on the privatisation of Ukrtelecom, the Ukrainian State Property Fund plans to sell a 10% stake in the telco, in which it currently holds 92.8% of shares, later this month. Meanwhile Sitronics, a technology company majority (77%) owned by Sistema and with interests in several Central and East European countries, has been valued at $2.8 billion (Euro2.2 billion) for a proposed IPO at the London Stock Exchange. (CD)