Ukrtelecom is returned to the state property

Photo: zn.ua Ukrtelecom final decision

The court found the illegal privatization of the company

The Kiev appeal economic court on 12 December upheld the decision of the court under the claim of Fund of state property on termination of the contract of purchase and sale of private joint-stock company Ukrtelecom.

Thus, Ukrtelecom will return to state property. About this informed the head of the state property Fund Vitaly Trebarov on his page in Facebook.

So, according to the court, the contract of purchase and sale of 92,791% of shares of PJSC Ukrtelecom concluded between the Fund and the ESU (owned by Ukrainian businessman Rinat Akhmetov) terminated.

The court also ordered JSC the State export-import Bank of Ukraine to write off from the accounts of ESU stake in Ukrtelecom to the state.

Also for failure to fulfill investment obligations with ESU in favor of the state budget of Ukraine will be charged interest at the rate of 81,9 million dollars, and also 243,2 thousand hryvnias of judicial collecting in favor of the state property Fund.

It is specified that the state property Fund has addressed in court because of the failure by the buyer — OOO ESU — conditions stipulated in the contract of purchase and sale of shares of JSC Ukrtelecom and the Concept of development after the privatization of OJSC Ukrtelecom, which is an integral part of the Contract.

Earlier the Economic court of Kyiv ruled to return to state ownership stake (92,79%) of Ukrtelecom, which belongs to the company ESU businessman Rinat Akhmetov.

As reported, in April of this year the Pechersky court of Kiev has seized the shares of Ukrtelecom and Trimob company in connection with a criminal case of embezzlement of public money by former President Viktor Yanukovych.

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