Armenia Agrees To Russia’s Buying 90 % Stake In Domestic Operator

ARMENIA AGREES TO RUSSIA’S BUYING 90 % STAKE IN DOMESTIC OPERATOR

ITAR-TASS News Agency, Russia
November 14, 2006 Tuesday 11:02 PM EST

The Armenian government has approved the acquisition by Russia’s
VympelKom Beeline of a 90-percent stake in operator Armentel for 381.9
million euros, a commission on regulating the republic’s market of
services reported on Tuesday.

In early November, VympelKom reached an agreement on buying out this
stake from Greece’s Hellenic Telecommunications Organization for
341.9 million euros and Armentel’s 40-million-euro debt.

Armentel is Armenia’s operator of fixed line communications, and
a holder of licenses for providing GSM-900 and CDMA communications
services. The number of Armentel’s fixed line segment subscribers is
600,000, while GSM format users number 400,000.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS