Ukraine's Tymoshenko rejects result

Western investors and Ukraine's powerful neighbour Russia reacted cautiously to the victory of Yanukovich, whose party is allied to the Kremlin's United Russia.

The official result signalled a remarkable comeback for Yanukovich, who tapped widespread disillusionment with the Orange Revolution democracy movement that delivered years of infighting instead of prosperity and stability.

Yanukovich may seek to form a coalition to get an ally into the role of prime minister, replacing Tymoshenko. This will require support from the Our Ukraine faction of outgoing President Viktor Yushchenko, which is far from certain.

Failure to secure a workable majority would force fresh parliamentary polls, possibly as early as June although autumn is more likely, but Yanukovich appears reluctant to call more elections for fear of voter fatigue.

(Writing by Richard Balmforth; Editing by David Stamp)