United Press International
June 23 2006

Four bidders for Armenia telco stake

ATHENS, Greece, June 23 (UPI) — Four bidders have emerged in the
competition for the Greek-owned 90-percent stake in Armenian telco
ArmenTel.

Hellenic Telecommunications Organization (OTE) said this week that
the four suitors were picked from 10 non-binding bids to take part in
the next phase of the sale of the monopoly operator.

OTE said on its Web site that the final four included Russia’s Ao
Vimpelcom and Mobile Tele Systems along with consortiums including
VTEL Holdings and Knightsbridge Associates, and Emirates
Telecommunications, Emergent Telecom Ventures and Istithmar PJSC.

The Armenian government will retain the remaining 10-percent of
ArmenTel, which serves only a fraction of Armenia’s population
despite its monopoly in wireless and fixed-line phone service.