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You're reading: DTEK’s CEO rebuts critics of latest privatizations
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Many of them note the low prices that the state assets fetched and the bad timing for the privatization, given declines in the Ukrainian stock exchange, a troublesome investment climate and low investor confidence.

But, for most critics, the biggest problem with the sales of four energy companies – three that generate power and one that distributes it — was the tender process itself. The conditions appear to have been drawn to favor one bidder, Rinat Akhmetov, the country’s richest person and one of the strongest allies of President Viktor Yanukovych.

In early 2012, DTEK, the energy arm of Akhmetov’s System Capital Management holding, won four privatization auctions.

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