Reporter, Greece
Nov 19 2004

Greece: OTE Secures settlement agreement regarding Armentel

19 November 2004 – The major shareholders of Armentel, OTE and the
Armenian state, have reached a settlement agreement following a year
of litigation, which is expected to be sealed by next week.

Armentel will retain exclusive rights for the provision of basic
telecommunication services and international data exchange channels
by 2009, but will not be a monopolist on GSM market. In addition,
parties have agreed on the gradual adjustment of tariffs. OTE has
disclosed no official announcement on the issue yet.
Note that call tariffs, the monopoly status and competition from IP
telecom providers were the main disputing issues between the
government and Armentel with both parties filing claims during the
previous year. Meanwhile, Armenia has also reportedly granted a 2nd
GSM license to Karabakh Telecom.

From: Emil Lazarian | Ararat NewsPress