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Viktor Yushchenko said Monday that he was satisfied with the results of the auction to privatize Krivorozhstal
Ukrainian President Viktor Yushchenko said Monday that he was satisfied with the results of the auction to privatize state-owned steel producer Krivorozhstal. A 93% stake was purchased by Mittal Steel Germany GmbH for about $4.8 billion. The presidential press service quoted Yushchenko as saying that the auction was conducted fairly and afforded the government the financial resources it needs to deal with several issues, including social ones. The privatization "has provided the state budget with 20% more in funds than it received in all the previous years of privatizations... [this] shows that Ukraine is able to carry out honest privatizations," he said. Former Ukrainian Prime Minister Yuliya Tymoshenko said Monday that the government would repossess Krivorozhstal if its new owner does not fulfill obligations stipulated in the sale. "If any part of the agreement is broken, Krivorozhstal will be returned to the state," she said after the auction. But Tymoshenko said she was confident that the new owner would provide salary increases in the company and meet all its investment obligations. During the auction, the head of Ukraine's State Property Fund, Valentina Semenyuk tendered her resignation due to health problems, Ukrainian news sources reported. Ukraine's Channel 5 quoted a Property Fund source Sunday saying that Semenyuk had been feeling ill, suffering high blood pressure since Friday, and had been admitted to hospital Saturday. The Property Fund's press service has not commented on Semenyuk's state of health.
Print Viktor Yushchenko said Monday that he was satisfied with the results of the auction to privatize Krivorozhstal Bookmark Viktor Yushchenko said Monday that he was satisfied with the results of the auction to privatize Krivorozhstal

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