As Ukraine sells off 4G spectrum, Akhmetov’s company benefits

Rinat Akhmetov, Ukraine’s richest billionaire, will get slightly richer after Ukraine’s state regulator auctions off the rights to the 4G frequency band at the end of January.

Akhmetov’s company MMDS-Ukraine, which owned the right to use the frequencies for years, will get half a billion hryvnias ($17.5 million) in compensation. This money will be paid by three bidders – Kyivstar, Vodafone, and lifecell.

The auction, scheduled on Jan. 31, covers seven frequency lots in the 2500 – 2700 MHz band, and is expected to raise almost Hr 2.3 billion ($80.7 million) for the state budget, according to the National Commission for State Regulation of Communications and Informatization.