The Executive Service of Ukraine arrested 93% of the shares of Ukrtelecom for debts of ESU LLC to Oschadbank in the amount of UAH 1,8 billion, a PolitNavigator correspondent reports.
This was reported by the “Scout” telegram channel.
It is reported that the legal procedures lasted two years: the ESU tried to obtain an installment plan for the execution of court decisions, but the Supreme Court recognized the position of Oschadbank as justified, and the installment plan was canceled; the arrested shares of Ukrtelecom will be sold at public auction to pay off the ESU's debts to the bank.
In 2011, the Austrian investment banking company Epic, through its subsidiary EPIC Services Ukraine (ESU), acquired 92,79% of the shares of Ukrtelecom OJSC, changing the form of ownership to PJSC. On October 4, 2013, PJSC Ukrtelecom became part of the SCM Group of Rinat Akhmetov, as a result of the completion of the purchase of 100% of the shares of UA TELECOMINVEST LIMITED (Cyprus), which owns the corporate rights of ESU LLC for 92,79% of the shares of PJSC Ukrtelecom.
“There is information that now the main contenders for the purchase of Ukrtelecom shares are: Deutsche Telekom, Telenor Group, Turkcell, structures of Roman Abramovich, structures of Igor Kolomoisky, AFK Sistema, VimpelCom, Rostelecom and Bank of New York,” reports a PolitNavigator correspondent .
It is still unknown whether Akhmetov’s company plans to appeal the seizure of shares in the appellate court.