Ukraine's wireline monopoly Ukretelecom heads to the auction block

As the Ukrainian government looks for ways to cut its own budget deficit, its State Property Fund plans to sell its 93 percent stake in wireline service provider monopoly Ukretelecom.

With a starting price of $1.3 billion, Reuters reported that a spokeswoman for the State Property Fund said that the "tender will take place on Dec 28."

Although the proposal to privatize Ukretelecom had been delayed in recent years due to political battles, the Ukranian government decided to put the telco back on the auction block in June. However, it did not take any real action until this September when it announced that its stake would be sold in an open auction.

Ukretelecom, a service provider that currently serves about 80 percent of the Ukraine's wireline market with some wireless holdings, earned $6.1 million in the first half of 2010. This was an improvement over 2009 when the service provider last $16 million.

For more:
- Reuters has this article

Related articles:
Research and Markets: Ukraine Telecommunications Report Q3 2010
Tata Communications pushes further into Russian telecom market

Suggested Articles

Liberty Global-owned Virgin Media is looking to expand its fiber network beyond urban areas in the U.K. via a wholesale fiber network joint venture. The…

Microsoft announced on Monday that it is investing $1 billon with OpenAI to develop large-scale AI solutions for Microsoft Azure.

Verizon is giving its enterprise customers faster provisioning times with the launch of its Software-Defined Interconnect (SDI) solution.