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Ukraine: Tycoon snags nation’s telecom monopoly

By  |  June 7, 2013

The working monopoly of Ukraine’s fixed-line market has been acquired by the nation’s wealthiest man. A 92.79 percent buyout of Ukrtelecom was purchased by Rinat Akhmetov and his holding group SCM Group; the stake was previously owned by investment group EPIC, based in Austria. Ukrtelecom holds a 3G license, but according to SCM Group, the buyout is a move for the company to offer new infrastructure and advanced services for telecommunications customers. The group also holds a stake in telecom Life. Antitrust regulators will need to approve of the deal before it is finalized.

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