OREANDA-NEWS. On 01 September 2009 was announced, that Ukraine's State Property Fund filed a suit in the Kyiv Economic Court in order to force Ukrtelecom (UTLM) to pay out dividends for 2007, Interfax said yesterday. The SPF's press service said that it filed the case on August 13 and that so far a hearing has not been scheduled. Ukrtelecom posted a profit in 2007 of UAH 267.2 mln.

Concorde Capital: Ukrtelecom owes UAH 74 mln in 2007 dividends to the state. If the court forces Ukrtelecom to pay up, it would weigh on the company's liquidity. However, the impact should not be severe, since as of June 31, Ukrtelecom had about UAH 676 mln in cash.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.