OREANDA-NEWS. On 4 October SCM Group has closed the deal with EPIC Group to buy 100% of UA ТELECOMINVEST LIMITED (Cyprus) that owns corporate rights to OOO “ESU” (Ukraine). In turn, OOO “ESU” owns 92.79% in Ukrtelecom (Ukraine).

“SCM has resources and expertise to ensure the necessary development dynamics and investment for growth,” said Ilya Arkhipov, Managing Director of SCM Advisors (UK) Limited, a subsidiary of SCM Group that advised on the deal.

Arkhipov also said that Ukrtelecom would continue to develop broadband access and focus more on customers: “The way you treat end customers and the quality of services are very important in telecommunications. We are going to prioritise the interests of our subscribers. The current and future clients will be able to enjoy top quality modern products and services.”

As a new owner of Ukrtelecom, SCM will continue to fulfil all obligations fixed in the privatisation tender conditions and the agreement with the State Property Fund of Ukraine.

We remind that SCM Group has been operating in Ukraine's telecom market for a while with its Vega telecommunications group in the fixed-line segment and a minority shareholding in Astelit that provides mobile telephony services under the life:) brand.