The Antimonopoly Committee of Ukraine has approved the takeover of the country’s dominant PSTN operator and sole W-CDMA mobile network owner Ukrtelecom by domestic conglomerate SCM, itself owned by Ukraine’s richest man Rinat Akhmetov, which already controls smaller telco Vega and part-owns third-placed GSM cellco Astelit (Life:)). The deal – agreed with Austrian-based seller Epic in June – can now be completed after the Committee granted SCM Financial Overseas Ltd authorisation to purchase 100% of the shares in holding company UA Telecominvest Ltd (Cyprus), which controlled 92.7% of Ukrtelecom via wholly-owned local holding vehicle Epic Services Ukraine (ESU), reports Capital.ua, citing the antitrust agency’s press department. 5% of Ukrtelecom’s shares are owned by management and 2.14% by employees, while a 0.07% stake is listed on the local stock exchange; ESU acquired its controlling stake for UAH10.575 billion (USD1.315 billion) plus a minimum investment pledge of UAH450 million in March 2011, according to TeleGeography’s GlobalComms Database, while no purchase price has been released for the SCM-Epic transaction.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors