VYMPELCOM GOING TO STRENGTHEN ARMENTEL’S POSITIONS

PanARMENIAN.Net
06.11.2006 15:19 GMT+04:00

/PanARMENIAN.Net/ When commenting on the bargain sealed with Greek
OTE President of VympelCom Russian company Alexander Izosimov said,
"We are glad to announce the agreement, which will allow us to
launch activities in Armenia, the sixth CIS state our company offers
its services to. Covering some 40% of the Armenian cellular market
ArmenTel has a strong position and we are going to consolidate it."

According to the information posted on VympelCom’s website, the
ArmenTel package costs 341.9 million euros plus 40 million euros of
net debt and obligations of the company. The final conclusion of the
bargain will depend on a number of terms including consent of the
Armenian government till end of 2006.