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Ukrtelecom bought by SCM Group

Ukrainian telco and IPTV provider Ukrtelecom has been bought out by SCM Group, which is owned by Ukrainian billionaire Rinat Akhmetov. 

“The SCM Group will become the owner of UA Telecominvest Limited and will receive control over a 92.79% stake in public joint-stock company Ukrtelecom, after obtaining all the required permits, including ones from the antimonopoly agencies,” the firm said in a statement, published by national news agency Interfax Ukraine.

The stake was bought from Austrian investment group EPIC, which acquired it from the Ukranian government in 2011 when Ukrtelecom was privatised. The new deal was done for undisclosed terms.