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Antimonopoly Committee of Ukraine issues fines for abuse, orders change in rates
Jul 3, 2009 at 13:30 | Ukrainian NewsThe AMCU has endorsed this decision at is meeting.
In the opinion of the Antimonopoly Committee, these companies are dominating on the market of cable television services.
the AMCU has obliged the Volia Cable Company, the Kyiv Telecommunications Networks Company, and the IVK Company to bring their rates to the economically justified level within two months.
As Ukrainian News earlier reported, the Volia Cable has accused the Antimonopoly Committee of biased attitude.
Volia Cable ended 2008 with a profit of UAH 19.207 million.
The company's net revenues increased by UAH 164.938 million or 60.3% to UAH 438.565 million in 2008, compared with 2007.
Volia group of companies provides analog cable television broadcasting services under the Volia Cable brand name, digital television broadcasting services under the Volia Premium TV brand name, and Internet access via cable networks under the Volia Broadband trademark.
The Volia group of companies is owned by the Ukrainian Growth Fund (UGF), which is managed by the SigmaBleyzer international company.
Kyiv Telecommunications Networks was founded in 2000.
It engages mainly in construction of cable networks and provision of the technical and technological resources that telecommunication networks require to provide services to subscribers to analog and digital television networks and Internet services.
Aquorn Holding Limited (Cyprus) owns 100% of the shares in the company.
The open joint stock company IVK was registered in 2004 to provide cable TV services.
99.97% of the company shares belong to Aquorn Holding Limited (Cyprus).