OTE SEEKS BUYER OF ITS ARMENTEL SHARES
Noyan Tapan
Apr 04 2006
YEREVAN, APRIL 4, NOYAN TAPAN. The OTE company (Greece) announced
that following the negotiations with the Armenian government, it is
looking for a buyer to purchase 90% of its shares in the ArmenTel
company. According to the AFX news agency, it is not for the first
time that OTE is trying to leave Armenia where it previously has
serious problems. It was also noted that HSBC Holding has assumed
the role of OTE’s financial advisor. According to some information,
a number of large Russian companies have expressed an intention to
acquire ArmenTel’s shares and thus enter the Armenian telecommunication
market. To recap, in 1997 OTE acquired 90% of the shares of ArmenTEl
that previously had a monopoly in Armenia’s telecommunication
sector. The remaining 10% of shares are the Armenian government’s
property.
From: Emil Lazarian | Ararat NewsPress
