VimpelCom buys Armenian phone company

United Press International
Nov 3 2006

YEREVAN, Armenia, Nov. 3 (UPI) — Russia’s VimpelCom and Hellenic
Telecommunications Organization are buying a majority stake in
Armenia’s CJSC Armenia Telephone Co.

The $486 million purchase price includes debt assumption, VimpelCom
said Friday in a news release.

CJSC Armenia Telephone is a fixed-line and mobile operator in Armenia
with licenses in the GSM-900 and CDMA standards. Armentel’s subscriber
base includes approximately 600,000 fixed-line subscribers and 400,000
GSM subscribers.

VimpelCom owns cell phone companies in Russia and Kazakhstan and
recently acquired cellular operators in Ukraine, Tajikistan, Uzbekistan
and Georgia.