FINANCING OF INVESTMENT ACTIVITIES OF UKRAINIAN TELECOM COMPANIES

Анотація

Introduction. Ukrainian telecommunication companies operate simultaneously in complex and unstable social and economic conditions. Currently the majority of domestic subscribers have a low level of effective demand. These factors are the main barriers for the effective financing of telecom providers’ investment activity. The purpose of the paper is to determine the conditions and trends of investment activity financing of the three Ukrainian telecommunication companies: Kyivstar, MTS Ukraine and Ukrtelecom. Method (methodology). The method of observation, method of comparison, method of generalization, method of grouping and index scientific method have been applied in the article. Results. The financing of the investment activity of the two largest telecommunication companies in Ukraine, Kyivstar and MTS Ukraine, whose results are stable and effective, is carried out by a self-financing policy. On one hand, the depreciation, amortization, and net profit are accumulated and these companies run the lowest risk of investment activity financing. On the other hand, the companies do not avail themselves of the opportunities to get financing from financial markets and implement it for more intensive development. This policy limits the basis for future economic benefits. In contrast, Ukrtelecom runs more significant risks in financing of investment activity. It actively pursued loans, credits and bonds. However, this policy is not effective because such investments are not enough to overcome the technological gap caused by constant innovation. In addition, internal problems exist.

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