Little more further:
I did  a # service ups stop
Then # service ups start:
Starting bestups: Network UPS Tools - Best UPS driver 0.51 (1.2.0)
This program is currently running as nutups (UID 420)
/dev/ttyS0 is owned by user root (UID 0), mode 0660
Change the port name, or fix the permissions or ownership of /dev/ttyS0 and try again.
Unable to open /dev/ttyS0: Permission denied
                                                           [ FAILED ]
Starting upsd:                                             [   OK   ]
Starting UPS monitor (master):                             [   OK   ]
I did a quick workaround chmoding /dev/ttS0 to 777 (maybe there is a better way ??)
Then 
# service ups start
Starting bestups: Network UPS Tools - Best UPS driver 0.51 (1.2.0)
Syncing with UPS: ..............................
Failed - giving up...
                                                           [ FAILED ]
Starting upsd:                                             [   OK   ]
Starting UPS monitor (master):                             [   OK   ]
Seems the driver is not working whith my UPS. How can iI apply the patch provided here: 
http://hutton.sh/~phil/blazer.html.
Please help !