VIVA CELL NOT READY TO PURCHASE 90% OF “ARMENTEL” SHARES

Yerevan, April 7. ArmInfo. VIVA Cell, second mobile connection
operator in Armenia, is not ready to purchase 90% of “ArmenTel” shares
from OTE, Greek company. Ralph Yirikian, general director of VIVA
Cell, informed ArmInfo. “We have just entered the Armenian market of
mobile connection,” he said. At the same time, he added that such an
opportunity isn’t excluded in the future. It’s worth mentioning that
OTE anounced about its decision to sell 90% Of “ArmenTel” shares,
after the consultations with RA Government, recently.

RA Government sold 90% of “ArmenTel” shares to OTE at $142,5 millions
in 1997. The rest 10% of the shares still belong to RA
Government. While VIVA Cell company became second mobile connection
operator in Armenia since June 1, 2005