Akhmetov’s shopping spree

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Jan. 26, 2012, 9:48 p.m. | Business — by Vlad Lavrov

Rinat Akhmetov

Vlad Lavrov

Kyiv Post staff writer

The latest wave of non-competitive Ukrainian privatizations of multibillion-dollar energy assets has left at least one Ukrainian happy.
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harley Jan. 27, 2012, 5:17 p.m.    

Isn't it interesting that the best source of news for what is actually happening in Ukraine is in the business section?

If I look at the big picture, here is what I see. The government is selling off state assets to their friends; as usually they set up the rules so it is only in the interest of these friends to bid, no foreign investors, so the prices are probably below market value. The new owners will pay for improvements and maybe even for the purchase itself by raising tariffs, but not on businesses, only on individual consumers.

What will the government do with the proceeds of these sales? Some might go to the solar energy operation in Crimea, subsidized by the government and seemingly controlled by the Kluyev brothers.

Some might be going for the billions being spent on Euro 2012 stadiums, with all the work put out with no bids, and still nobody knows who owns these construction companies and what is their relationship to POR and Yanukovych.

Looking at the big picture we have money moving away from those with the least and moving towards those with the most; and seemingly in an unfair way, and possibly dishonest way. I hope Prosecutor Kuzmin is looking at this situation, if he is really the crusader he claims to be.

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