Rinat Akhmetov, Ukraine's richest business mogul, owns a firm that had recently announced that it was purchasing Ukrtelecom, the former Soviet Republic's biggest fixed line operator. Akhmetov's company would be purchasing the telecommunications firm from EPIC, the Austrian investment firm.
No details as to the purchase price was provided. This takeover though solidifies Akhmetov's position as owner of one of the biggest business conglomerates in Ukraine. He is a known key ally of President Viktor Yanukovich, the leader of a nation with a population of 46 million. Akhmetov's empire covers energy, steel, banking and media enterprises.
He also owns one of the Ukraine's top football clubs, Shakhtar. He hails from the Donetsk region in the eastern part of the Ukraine. This is also where Yankuvich's power base and hometown.
The firm to purchase Ukrtelecom is SCM. SCM did not disclose how much it had paid for 92.79% stake in the telecommunications firm. Back in 2011, EPIC had paid the Ukrainian government the amount of US$1.3 billion for the stake now being sold to SCM.
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