Ukrtelecom

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Ukrtelecom was Ukraine's largest state owned telecommunications operator, having both fixed and mobile lines. Mobile operations were carried by Utel which has 643,000 mobile subscribers as of July 2011 and was the sole 3G license holder in Ukraine. Ukrtelecom had 10.126 million fixed lines as of 2011. In March 2011, a 92.79% stake in Urktelecom was sold ESU LLC, a subsidiary of the Austrian-based investment group EPIC for US$ 1.32 billion (UAH 10.575billion). ESU was the sole bidder in the auction and as such the auction was cancelled. Other companies that pre-qualified for the bid were While several companies were prequalify to submit offers for Ukrtelecom, including Ukrainian financial and industrial group System Capital Management (SCM) and Russian multi-industry holding AFK Sistema. Following an independent valuation of Ukrtelecom, the government of Ukraine offered ESU a direct sale for US$ 1.32 billion (UAH 10.575billion). The agreement between Ukraine's State Property Fund was signed on March 15, 2011, approved by the presidential administration on March 17, 2011. In October 2011, the State Property Fund transferred the proceeds from the divestiture to the state budget. According to the sale contract, ESU committed to repay Ukrtelecom's outstanding debt of about $624 million($160 million and UAH 3.7 billion). EPIC Financial Consulting was founded in 1991 to provide consulting and investment services for conducting privatizations in Central and Eastern Europe. It is owned by four individual investors. In August, 2011 the State Property Fund agreed to allow ESU to separate Ukrtelecom's mobile operator, Utel into a different legal entity. As of September 2011, Ukrtelecom reorganized its mobile unit, Utel into a new separate limited liability company called TriMob. In June 2013, it was announced that Mr. Rinat Akhmetov, Ukraine's richest man, would buy EPIC Group's shares in Ukrtelecom at an undisclosed price. Following the takeover of Ukrtelecom by Ukranian conglomerate System Capital Management (SCM) in late 2013, negotiations are underway for the sale of Trimob. Leading contenders are MTS Ukraine and Turkcell. Trimob is Ukraine's sole 3G 2100MHz W-CDMA/HSPA network operator. http://en.ukrtelecom.ua/about/today - subscriber info CAPEX info unavailable.