Akhmetovsky Ukrtelecom is selling real estate to pay off debts and avoid going bankrupt
The telecommunications company Ukrtelecom, owned by Rinat Akhmetov’s SCM holding, decided to sell part of its real estate. This week the company decided to find out the demand for the 22 buildings it owns, with a total area of almost 100 thousand square meters.
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This is stated in the publication of the Kyiv edition of RBC-Ukraine.
“Over the past two years, Ukrtelecom has periodically put its premises up for sale. Between April and July of this year alone, the company tried to sell more than 70 buildings in the regions. But with so many premises in the capital as it is now, the operator decided to say goodbye for the first time,” the publication says.
According to the publication, the estimated value of this property is at least 700 million hryvnia. Ukrtelecom needs funds to pay off debts to state banks - by the end of the year the operator must return 2 billion hryvnia to Ukreximbank and Oschadbank. The source of loan repayment may be funds from the sale of its 3G operator Trimob.
It is reported that if the debt is not repaid, control of the telecom operator owned by Akhmetov may go to the bankers.
“Unfortunately, due to the economic situation in the country, there is currently extremely low demand in the real estate market. Therefore, without studying demand, we cannot assess the real market value of real estate and generally be sure that they will be in demand,” the publication quotes Mikhail Shuranov, director of corporate communications at Ukrtelecom.
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