OTE MAY SELL ARMENTEL COMPANY

PanARMENIAN.Net
05.04.2006 02:32 GMT+04:00

/PanARMENIAN.Net/ OTE Greek telecommunication group considers the
possibilities of selling 90% shares of ArmenTel it holds, the OTE
reported on Tuesday. “After consultations with the Armenian Government
the OTE announced that it has began consideration of opportunities for
selling 90% shares of ArmenTel it holds,” the OTE release says. HSBC
Bank is the consultant in the deal, the group added. The OTE bought
90% of shares of ArmenTel Armenian company in the end of 1997, also
acquiring monopoly for telecommunication services for 15 years,
Reuters reports. Meanwhile, hearsay that spread in Armenia lately
said Megafon Russian company may buy ArmenTel.