VIMPELCOM TO REJECT MONOPOLY THAT ARMENTEL ENJOYED
By Ara Martirosian

AZG Armenian Daily
15/11/2006

Russian Company Comes to Substitute OTE

Russian Vimpelcom Communications Company became the new owner of
ArmenTel yesterday. The Commission Regulating Public Services gave
its consent to the deal of selling 90% of ArmenTel and Greek OTE
Company’s shares. The Commission’s decision reads that the deal does
not go against Armenia’s national interests and that the new owner
gets all the rights and obligations of ArmenTel. Yet, the new company
will not enjoy the monopoly that ArmenTel used to enjoy anymore.

Representatives of the two companies made statements during signing
of the deal. ArmenTel Executive Director, Vasilis Fetsis, asked the
Commission to agree to the agreement between OTE and Vympelcom. He
emphasized that Vympelcom is a trustworthy company with a big
representation in the communications sphere.

Representative of Vimpelcom, the candidate for ArmenTel general
director Oleg Bliznuk said that the deal will be completed this
week. He said that Vympelcom is going to introduce its experience and
up-to-the-minute telecom technologies and to significantly improve
the quality of phone services in Armenia. Bliznuk said that Vympelcom
is negotiating with RA Government over the latter’s 10% stake in
ArmenTel. The Government requires that Vimpelcom gradually renounces
the monopolies granted to ArmenTel by license 60. "Monopoly spoils
a producer and only competition allows him to achieve high quality
standards," says Bliznuk. He notes that they are considering changing
the brand from ArmenTel into Beeline.