Prime Minister of Ukraine Yulia Tymoshenko believes that the statement of the State Property Fund of Ukraine about necessity to denunciate the agreement with Kryvorizhstal investor, Arcelor Mittal, is empty and provocative.

According to an UNIAN correspondent, she claimed this to a press conference in Kyiv today.

“Unfortunately, the statements of the State Property Fund of Ukraine are, as usual, empty and provocative. Unfortunately, we failed to replace the SPFU leadership through the Verkhovna Rada, and thoroughly corrupted directors remained at power”, she said.

The Prime Minister expects that after the vacation period, the Verkhovna Rada will make decision about replacing the SPFU leadership.

“After the vacation period, we will for sure replace the State Property Fund leadership, through the Verkhovna Rada, through parliament”, she stressed.

Yulia Tymoshenko once again pointed out that the process of Kryvorizhstal privatization was fair and transparent for the first time through the whole history of the Ukrainian privatization.

As UNIAN reported earlier, on Monday, the State Property Fund of Ukraine sent a letter to the Cabinet of Ministers of Ukraine, informing it that Arcelor Mittal, which bought the Kryvorizhstal OJSC state-owned shareholding, failed to fulfill the purchase and sale agreement. The SPFU also informed the government about necessity to allocate around 72.7 mln hryvnias for legal proceedings on denunciating the agreement.

Arcelor Mittal purchased its Ukrainian assets, formerly known as Kryvorizhstal, in October 2005 by spending more than $4.8 billion for 93% stake. This was Ukraine`s first transparent privatization auction and generated more cash for the government than any other selloff over the past 10 years.