Etisalat, $314m Armentel bid

AME Info, United Arab Emirates
June 24 2006

Greek telecom company OTE has short-listed four bidders, including
one consortium led by Etisalat, for its 90% stake in Armenian firm
Armentel, which is worth $313.8m, reported Reuters. Etisalat’s
consortium also includes investment company Istithmar and Emergent
Telecom Ventures. Two large Russian mobile operators are also in the
bidding for the Armenian firm which has 321,000 subscribers.