OREANDA-NEWS. August 11, 2008. The Cabinet of Ministers of Ukraine has endorsed the financial plan of Ukrtelecom for 2008, in keeping with which it must receive UAH 8.7 million of net profits, and pay out to the budget UAH 1.5 billion (UAH 4.85 / USD 1).

Transport and Communications Minister Yosyp Vinskyi declared this upon completion of a government meeting.

Open joint stock company Ukrtelecom monopolizes Ukraine's fixed electric communications market. The government's stake in it is 92.86%, and 7.14% was sold out to employees.

Ukrtelecom covers 78.5% of the domestic fixed communications market, also providing cellular communication services in the UMTS standard.