GOVERNMENT SELLS ITS SHARES IN ARMENTEL TO RUSSIAN COMPANY
ARMENPRESS
Mar 22 2007
YEREVAN, MARCH 22, ARMENPRESS: The government of Armenia has decided
today to sell 10 percent of its shares in ArmenTel telephone operator
to the Russian VimpelCom that had bought the company from the Greek
OTE last year.
The government said the price of 10 percent stake was set based on
the fact that 90 percent were sold to VimpelCom last year at 342
million euros.
In the wake of selling ArmenTel to the Russian company the government
said it would sell the remaining 1,883,771 shares to Russians given
it declined all type of exclusive rights that had been granted to OTE.