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President Kuchma Orders Halt to the Sale of Ukrtelekom and Odessa Port Plant

Ukrainian President Leonid Kuchma has instructed the State Property Fund to halt the process of privatisation of Ukrtelekom and the Odessa Port Plant, Kuchma's press service said on August 19.

Kuchma explained the decision "by the recent speculations around the privatisation developments in Ukraine".

The fund chairman, Mykhaylo Chechetov, had earlier estimated the price of the 42.86% stake in Ukrtelekom, which is to be put up for sale, at $560m-750m, and the price of Odessa Port Plant at around $190m.

(NewsBase 23.viii.04)

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