Announcement

Collapse
No announcement yet.

Russian VimpelCom Became Owner Of ArmenTel Company

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Russian VimpelCom Became Owner Of ArmenTel Company

    RUSSIAN VIMPELCOM BECAME OWNER OF ARMENTEL COMPANY

    PanARMENIAN.Net
    04.11.2006 13:47 GMT+04:00

    /PanARMENIAN.Net/ VimpelCom Public Corporation announced November 3
    the signing of an agreement with the Greek Hellenic Telecommunications
    Organization SA (OTE) on purchase of 90% of ArmenTel CJSC shares,
    which is communication services operator of Armenia.

    The 90% of ArmenTel shares make EUR 341.9 million plus some EUR
    40 million as the company pure debt and obligations. The deal is
    planned to be formalized before the end of 2006, VimpelCom Press
    Office reported.

    ArmenTel is the major telecommunication company of Armenia of which
    the Government has 10%. OTE Greek company, which holds 90% of its
    shares, announced a tender on selling these this year. 16 companies
    took part in it. Russian VimpelCom and MTC, as well as ETISALAT
    (Emirates Telecommunications Corporation/Istithmar ETV -Emergent
    Telecom Ventures) è VTEL Holdings/Knightsbridge Associates passed to
    the second round of the tender, the results of which are not announced
    yet. The OTE had bought ArmenTel at USD 142.47 million. Before
    November 4, 2004 ArmenTel was the monopolist at the cellular market
    of Armenia. In November 2004, in exchange for deprival of monopoly
    rights for GSM services, ArmenTel got a prerogative for IP-telephone
    services. Thus, K-Telecom came to Armenia with a trademark of VivaCell
    - a branch structure of Nagorno Karabakh communication operator.

    Armenian PM Manukyan had stated that the purchaser of ArmenTel should
    refuse monopoly to a number of activities and the pretenders to the
    buying of the shares agreed to that condition, reports IA Regnum.

    --Boundary_(ID_H8cJQt21lXbL8qXgMWkItg)--
Working...
X