State Property Fund of Ukraine and “ESU” officially signed a contract of sale of the company “Ukrtelecom” to a controlling stake (92.79%).

The contract was signed by Chairman of the Foundation gos.imuschestva Alexander Ryabchenko and General Director of “Yeosu” Wolfgang Heritshem. The total purchase price amounted to 10.757 billion UAH. The cost of a controlling stake was valued by an independent company JSC “Consulting firm” Ostrov “.

Changes
In the near future, the new shareholders will try to increase the yield of fixed-line telecommunications (fixed line brings 70% of revenue), development of internet trends and 3G. As experts predict, without redundancy procedures is unavoidable, as the staff in Ukrtelecom heavily hyped, most likely under 50% will reduce staff. Also projected increases in tariffs. But, as the new leadership pledges, the money saved will be used to restructure the company, the modernization of legacy PBX, improving quality and service.