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ARMENTEL SOLD FOR $600 MLN: UNCONFIRMED INFORMATION
ARMINFO News Agency
October 9, 2006 Monday
ArmenTel telecom company has been sold for $600 mln, report sources
close to the Armenian Government. They say that of the 4 contenders -
two Russian and two Arab companies - the owner of 90% of ArmenTel's
shares, OTE (Greece), has selected the Arab consortium Emirates
Telecommunications Corporation (ETISALAT) / Istithmar PJSC / Emergent
Telecom Ventures (ETV).
To remind, OTE started receiving price offers in early Oct and the
Arab consortium is said to have offered the best price.
To remind, in 1997 OTE paid for Armentel $142.5 mln and has invested
almost $300 mln since then. In late 2005 the number of ArmenTel's
fixed telephony subscribers totalled 600,000 and of mobile phone
subscribers 260,000.
ARMINFO News Agency
October 9, 2006 Monday
ArmenTel telecom company has been sold for $600 mln, report sources
close to the Armenian Government. They say that of the 4 contenders -
two Russian and two Arab companies - the owner of 90% of ArmenTel's
shares, OTE (Greece), has selected the Arab consortium Emirates
Telecommunications Corporation (ETISALAT) / Istithmar PJSC / Emergent
Telecom Ventures (ETV).
To remind, OTE started receiving price offers in early Oct and the
Arab consortium is said to have offered the best price.
To remind, in 1997 OTE paid for Armentel $142.5 mln and has invested
almost $300 mln since then. In late 2005 the number of ArmenTel's
fixed telephony subscribers totalled 600,000 and of mobile phone
subscribers 260,000.