SCM Group, owned by Rinat Akhmetov, said that it would appeal the decision of the court in Cyprus to freeze assets worth $ 820 million. This is stated in the statement of SCM, quoted by Radio Liberty,.

"The SCM group company indirectly acquired Ukrtelecom shares in Raga Establishment Limited (then called EPIC Telecom Invest Limited) in 2013, 2 years after the privatization of Ukrtelecom. Currently, we have really received information about the preliminary determination of the court in Cyprus for some companies of the SCM group on the suit of Raga Establishment Limited. We categorically disagree with this definition, and it will be appealed against by us. SCM Group companies will also actively defend themselves in the courts against the groundless lawsuit filed by Raga Establishment Limited, within which a decision was made. We also remind that the SCM group did not directly or indirectly participate in the privatization of Ukrtelecom in 2011. As we have repeatedly stated, "- said in a statement of the company.

The British edition of business circles Financial Times earlier on January 5 published an article "Rinat Akhmetov from Ukraine froze assets for 820 million dollars". According to the newspaper, "Rinat Akhmetov, the richest man in Ukraine, received a court order from Cyprus to freeze his assets for $ 820 million in a legal dispute with rival of the country's largest fixed telecommunications company".

The decision of the Nicosia District Court regarding Akhmetov and nine other parties was made as early as December 27, and the newspaper, the article says, was provided by the plaintiff, the company Raga Establishment. Its owner is Denis Gorbunenko, a former Ukrainian banker. He wants Akhmetov and other payments to pay the full amount for the sale of Ukrtelecom. The company claims that in 2013 it sold Ukrtelecom to Akhmetov for $ 860 million, but received only $ 100 million from this amount.

The court's decision means that Akhmetov and other defendants are free to dispose of their assets, but under certain conditions, the most important of which is always to keep these assets, at least in the amount of 820.5 million dollars that Raga is seeking. But, the author of the article adds, it is not yet clear what effect this decision can have on Akhmetov's ownership rights on Ukrtelecom.

Akhmetov may appeal this decision before January 8, adds Financial Times.