Epic Services Ukraine (ESU), a subsidiary of Austrian investment fund Epic, has confirmed that it will sign a purchase agreement on Friday 4 March 2011 to buy a 92.79% stake in state-owned Ukrainian national telecoms operator Ukrtelecom, for UAH10.58 billion (USD1.32 billion). Local newspaper Delo.ua quotes Epic spokeswoman Nina Yavorskaya as saying that the fund’s management plan to sign an agreement at a special briefing in the presence of the media on Friday. Epic was the sole bidder in Ukrtelecom’s privatisation auction in December.
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