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Sale of 90% of Armentel Shares is Likely to Complete in Late August

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  • Sale of 90% of Armentel Shares is Likely to Complete in Late August

    SALE OF 90% OF ARMENTEL SHARES IS LIKELY TO COMPLETE IN LATE AUGUST

    AZG Armenian Daily #139, 26/07/2006

    Economy

    It is expected that the sale of 90% of ArmenTel shares will be
    completed in late August. OTE headquarter informed about this,
    today. According to the source, the board of OTE company didn't make
    any official statements about the terms of the sale. "But there are
    all grounds to suppose that the sales results will be known already
    in end August," it stated. The Russian mass media informed that 90%
    of ArmenTel shares will be sold to the Russian "AFK Sistema" and VTEL
    Holdings / Knightsbridge Associates the international consortium.

    By Ara Martirosian
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