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UCOM ARMENIAN TELECOM COMPANY SELLING FULL PACKAGE OF NETSYS INTERNET PROVIDER'S SHARES
arminfo
Wednesday, November 21, 20:13
Ucom LLC is selling asset - Netsys Company. The Public Services
Regulatory Commission of Armenia adopted a decision on November 21 to
alienate Ucom's 100% interests in Netsys Internet provider in favor
of a citizen of Armenia Tigran Hovhannisyan.
Netsys Company told ArmInfo that Tigran Hovhannissyan is a private
who was earlier engaged in telecommunications sector. Netsys's sale
to Hovhannissyan is connected with the company's plans to raise big
investments, the company said. The amount of possible investments is
not mentioned.
Earlier in September 2011 PSRC approved a transaction of acquisition
of Netsys by a bigger provider, UCOM LLC. Then Netsys told ArmInfo
that the technical merger will be made within 6 months. Netsys entered
the Armenian market 12 years ago and provides Internet connection in
Yerevan. The merger pursued a goal to raised funds for expansion. In
addition, it was hard for the company to compete with UCOM.
Netsys is an Armenian-American Joint Venture, providing a full range of
Internet services in Armenia: Internet connection & E-mail services
via Dialup and Broadband DSL, WiMAX links, as well as complete
Hosting Solutions, including Domain Name Registration, virtual WEB
and MAIL Hosting. Ucom is a young telecommunication company actively
introducing its products in the market. The company offers Triple Play
(high-speed symmetric Internet connection, IP television and landline
digital phone) in a single package through FTTH. By data for 2011
there were nearly 200,000- 250,000 subscribers of broadband Internet
in Armenia and Ucom's share in the market was nearly 10%-12%. The
company covers 65% of Yerevan and plans to expand into other big towns
of Armenia. As it was reported earlier, 41% of Ucom's share belong
to Aram Khachatryan, by 5% of the shares belong to Hayk Yesayan and
Alexander Yesayan and the remaining 49% belong to IU Telecommuncate
Limited, Cyprus.
By some unconfirmed data, the final beneficiary of the company is
Gagik Khachatryan, Head of the State Revenue Committee of Armenia.
In 2011 Ucom announced its merger with Netsys Internet provider company
and acquired 100% shares of another provider - Icon Communications. In
July 2012 Ucom announced acquisition of the full package of share of
the Armenian TV Company Interactive TV.
Ranking of the trade and service companies of Armenia prepared by
ArmInfo says assets of UCOM grew 93.4% for 2011 to 9.8 bln drams,
as the fixed assets grew over twofold (by 4 bln drams) to 7 bln drams.
Loss in 2011 totaled 555 mln drams deepening over threefold over
the year.
arminfo
Wednesday, November 21, 20:13
Ucom LLC is selling asset - Netsys Company. The Public Services
Regulatory Commission of Armenia adopted a decision on November 21 to
alienate Ucom's 100% interests in Netsys Internet provider in favor
of a citizen of Armenia Tigran Hovhannisyan.
Netsys Company told ArmInfo that Tigran Hovhannissyan is a private
who was earlier engaged in telecommunications sector. Netsys's sale
to Hovhannissyan is connected with the company's plans to raise big
investments, the company said. The amount of possible investments is
not mentioned.
Earlier in September 2011 PSRC approved a transaction of acquisition
of Netsys by a bigger provider, UCOM LLC. Then Netsys told ArmInfo
that the technical merger will be made within 6 months. Netsys entered
the Armenian market 12 years ago and provides Internet connection in
Yerevan. The merger pursued a goal to raised funds for expansion. In
addition, it was hard for the company to compete with UCOM.
Netsys is an Armenian-American Joint Venture, providing a full range of
Internet services in Armenia: Internet connection & E-mail services
via Dialup and Broadband DSL, WiMAX links, as well as complete
Hosting Solutions, including Domain Name Registration, virtual WEB
and MAIL Hosting. Ucom is a young telecommunication company actively
introducing its products in the market. The company offers Triple Play
(high-speed symmetric Internet connection, IP television and landline
digital phone) in a single package through FTTH. By data for 2011
there were nearly 200,000- 250,000 subscribers of broadband Internet
in Armenia and Ucom's share in the market was nearly 10%-12%. The
company covers 65% of Yerevan and plans to expand into other big towns
of Armenia. As it was reported earlier, 41% of Ucom's share belong
to Aram Khachatryan, by 5% of the shares belong to Hayk Yesayan and
Alexander Yesayan and the remaining 49% belong to IU Telecommuncate
Limited, Cyprus.
By some unconfirmed data, the final beneficiary of the company is
Gagik Khachatryan, Head of the State Revenue Committee of Armenia.
In 2011 Ucom announced its merger with Netsys Internet provider company
and acquired 100% shares of another provider - Icon Communications. In
July 2012 Ucom announced acquisition of the full package of share of
the Armenian TV Company Interactive TV.
Ranking of the trade and service companies of Armenia prepared by
ArmInfo says assets of UCOM grew 93.4% for 2011 to 9.8 bln drams,
as the fixed assets grew over twofold (by 4 bln drams) to 7 bln drams.
Loss in 2011 totaled 555 mln drams deepening over threefold over
the year.