SERZH SARKISIAN DENIES PLANS TO HAND ARMENTEL TO RUSSIAN COMPANY

Armenpress

ARMENPRESS, JULY 12, ARMENPRESS: Armenian defense minister Serzh
Sarkisian, who is also a cochairman of the Armenian-Russian commission
on economic cooperation, downplayed today media allegations that
authorities in Yerevan were preparing to hand over ArmenTel telephone
operator to a Russian company.

Sarkisian said 90 percent of ArmenTel share was owned by Greek OTE
which has announced a tender to sell its Armenian subsidiary.

Serzh Sarkisian said none of top government officials in Yerevan was
lobbying the interests of the Russian Sistema corporation that has
qualified for ArmenTel tender through its resale carrier subsidiary
MTS. Media speculations here claimed that ArmenTel was ostensibly
promised to Sistema in return for a pledge to buy also Mars electronic
plant in Yerevan that was handed to Moscow in 2002 together with four
other enterprises to write off Armenia’s $96 million debt to Moscow.

Sarkisian was talking to a joint news conference with Russian transport
minister Igor Levitin who said Sistema was mulling purchase of a
long-term lease Mars plant.

The Hellenic Telecommunications Organization (OTE) revealed on June 22
that it short-listed Russian Vimpelcom and Mobile Telesystems (MTS),
as well as the consortium of Emirates Telecommunications Corporation
(ETISALAT) / Istithmar PJSC /Emergent Telecom Ventures (ETV) and the
VTEL Holdings / Knightsbridge Associates for the next phase of the
tender for ArmenTel shares.