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MINISTER CONFIRMS ARMENIAN GOVT MAY SELL ARMENTEL STAKE TO VIMPELCOM
Prime-Tass Business News Agency, Russia
November 8, 2006 Wednesday
The Armenian government is ready to sell its 10% stake in ArmenTel,
the incumbent telecoms operator in Armenia, to Russia's second largest
mobile operator VimpelCom, Transportation and Communications Minister
Andranik Manukyan said, ITAR-TASS reported Wednesday.
The government may sell its stake to VimpelCom if the Russian operator
agrees to give up ArmenTel's current monopoly status on the fixed-line
market, the minister said without providing any price estimates for
the stake.
On November 3, VimpelCom said that it had signed an agreement
to acquire a 90% stake in ArmenTel from Greece's Hellenic
Telecommunications Organization SA (OTE) for 341.9 million euros plus
assuming ArmenTel's debt of about 40 million euros.
The Armenian government holds the remaining 10% stake in ArmenTel.
ArmenTel is a fixed-line and mobile operator in Armenia with licenses
in the GSM 900 and CDMA standards. ArmenTel's subscriber base
includes approximately 600,000 fixed-line subscribers and 400,000
GSM subscribers.
Armenia's population is about 3.2 million people.
VimpelCom operates in Russia, Kazakhstan, Tajikistan, Ukraine and
Uzbekistan and plans to launch services in Georgia soon.
Prime-Tass Business News Agency, Russia
November 8, 2006 Wednesday
The Armenian government is ready to sell its 10% stake in ArmenTel,
the incumbent telecoms operator in Armenia, to Russia's second largest
mobile operator VimpelCom, Transportation and Communications Minister
Andranik Manukyan said, ITAR-TASS reported Wednesday.
The government may sell its stake to VimpelCom if the Russian operator
agrees to give up ArmenTel's current monopoly status on the fixed-line
market, the minister said without providing any price estimates for
the stake.
On November 3, VimpelCom said that it had signed an agreement
to acquire a 90% stake in ArmenTel from Greece's Hellenic
Telecommunications Organization SA (OTE) for 341.9 million euros plus
assuming ArmenTel's debt of about 40 million euros.
The Armenian government holds the remaining 10% stake in ArmenTel.
ArmenTel is a fixed-line and mobile operator in Armenia with licenses
in the GSM 900 and CDMA standards. ArmenTel's subscriber base
includes approximately 600,000 fixed-line subscribers and 400,000
GSM subscribers.
Armenia's population is about 3.2 million people.
VimpelCom operates in Russia, Kazakhstan, Tajikistan, Ukraine and
Uzbekistan and plans to launch services in Georgia soon.