RosBusinessConsulting, Russia
March 15 2005

Armenia posts twofold increase in mobile subscribers

RBC, 15.03.2005, Erevan 15:59:08.As of January 1, 2005, the
number of subscribers to mobile services reached 203,309 compared to
111,118 at the beginning of 2003, the press department of ArmenTel
reported. In 2004, ArmenTel’s revenue from providing mobile
communications services advanced 46 percent to EUR27.483m. This
increase is due to the company focusing on the development of mobile
communications services. In 2004 the company allocated 41.6 percent
more funds for investments in the development of mobile
communications, which rose to EUR17.364m.