Oschadbank Placed Up for Auction on “Prozorro.Sales” a Claim Against the Owner of 92.79% of Ukrtelecom’s Shares for UAH 2.65 Billion

Oschadbank has placed for sale a claim against LLC “ESU” under a securities purchase and sale agreement. The company owns 92.79% of the shares in JSC “Ukrtelecom.” The starting price for the lot stands at UAH 2.645 billion.

The sale will take place on the “Prozorro.Sales” electronic trading platform based on the English auction principle, with the price increasing as bids are made. The auction is scheduled for October 6, 2026, at 12:55 p.m., while bids will be accepted until October 5, 2026, at 8:00 p.m.

The starting price for the sale of the claim amounts to 2,645,429,959.75 UAH, VAT excluding. The minimum bid increment is 1%, or 26.45 million UAH. The security deposit comprises 5% of the starting price - UAH 132.27 million.

Banks and other financial institutions entitled by law to provide services related to lending funds and precious metals are eligible to participate in the auction.

Should the English auction be deemed unsuccessful, Oschadbank may proceed with the sale of the claim through a Dutch auction - by gradually reducing the starting price and subsequently accepting bids.

Lot information: https://prozorro.sale/auction/BSE001-UA-20260904-20381/

For Reference:

LLC "ESU" was established as a special-purpose investment vehicle for the privatization of and ownership of a majority stake in JSC “Ukrtelecom.” In 2011, the company acquired 92.79% of the telecommunications operator’s shares from the State Property Fund of Ukraine. In 2013, LLC “ESU”, along with its telecommunications assets, was acquired by the SCM Group. Currently, the shares of JSC “Ukrtelecom” remain the main liquid asset of LLC “ESU”.

The debt of LLC “ESU” to Oschadbank arose due to its failure to fulfill its obligations under the bonds. In 2016–2017, the bank filed lawsuits to recover the debt and obtained the corresponding court rulings. In 2024, the Kyiv Commercial Court opened bankruptcy proceedings against LLC “ESU”.