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. Last Updated: 07/27/2016

Ukrtelekom Sale Plan

KIEV -- Ukrainian President Leonid Kuchma has ordered the sale of not less than a 25 percent plus one share stake in state telecoms monopoly Ukrtelekom to a strategic investor, the presidential press service said Wednesday.

The president's order takes effect after 30 days and only if parliament fails to veto it or pass alternative legislation.

The text of Kuchma's decree said the stake should be sold to the highest bidder for cash and the government should decide the date of the sale after company restructuring had been completed.

The decree said the state would retain a 50 percent plus one share stake.