The privatisation of Ukraine’s incumbent telco Ukrtelecom has been dealt a blow by a court ruling. Although Ukrtelecom is majority (92.86%) state owned, with its management and employees holding the remaining shares, the sale of a 1% stake in the company for up to $50 million (€37.15 million) has been blocked as a result of a ruling on a claim filed by a plaintiff. According to local reports, the sale would have paved the way for a second sale, the two raising up to $200 million, and a possible IPO. Ukrtelecom has attracted the interest of several potential investors including Russia’s Comstar-UTS, owned by Sistema. It accounts for around 78% of fixed lines in Ukraine and is the country’s leading ISP.