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You're reading: Akhmetov’s shopping spree
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The auctions to sell stakes at three power generation and one distribution company has vaulted Rinat Akhmetov, the nation’s richest person, to the status of near-monopolist when it comes to generation, distribution and export of electricity.

Experts question the transparency of tender conditions that left little chance for foreign investors to compete with Akhmetov, a close ally and supporter of President Viktor Yanukovych and a lawmaker in the pro-presidential Party of the Regions.

As a result, they say, the selling price of the assets was considerably lower than the price Ukraine’s cash-strapped budget would receive if free-market mechanisms and competition were in place.

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