RUSSIAN VIMPELCOM BECAME OWNER OF ARMENTEL COMPANY
PanARMENIAN.Net
04.11.2006 13:47 GMT+04:00
/PanARMENIAN.Net/ VimpelCom Public Corporation announced November 3
the signing of an agreement with the Greek Hellenic Telecommunications
Organization SA (OTE) on purchase of 90% of ArmenTel CJSC shares,
which is communication services operator of Armenia.
The 90% of ArmenTel shares make EUR 341.9 million plus some EUR
40 million as the company pure debt and obligations. The deal is
planned to be formalized before the end of 2006, VimpelCom Press
Office reported.
ArmenTel is the major telecommunication company of Armenia of which
the Government has 10%. OTE Greek company, which holds 90% of its
shares, announced a tender on selling these this year. 16 companies
took part in it. Russian VimpelCom and MTC, as well as ETISALAT
(Emirates Telecommunications Corporation/Istithmar ETV -Emergent
Telecom Ventures) è VTEL Holdings/Knightsbridge Associates passed to
the second round of the tender, the results of which are not announced
yet. The OTE had bought ArmenTel at USD 142.47 million. Before
November 4, 2004 ArmenTel was the monopolist at the cellular market
of Armenia. In November 2004, in exchange for deprival of monopoly
rights for GSM services, ArmenTel got a prerogative for IP-telephone
services. Thus, K-Telecom came to Armenia with a trademark of VivaCell
– a branch structure of Nagorno Karabakh communication operator.
Armenian PM Manukyan had stated that the purchaser of ArmenTel should
refuse monopoly to a number of activities and the pretenders to the
buying of the shares agreed to that condition, reports IA Regnum.
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