‘VIMPELCOM’ OJSC PLANS TO REDUCE INVESTMENTS IN ARMENIA IN 2008 BY 21,3%

arminfo
2008-04-07 15:54:00

ArmInfo. "Vimpelcom" OJSC plans to reduce the investments in the
Company’s development in 2008 by $74 mln against about $90 mln in 2006,
Executive vice President of "Vimpelcom" OJSC for Business Development
in CIS countries Dmitry Pleskonos told journalists today in Yerevan.

He said that the investments will be mainly directed at upgrading of
the telecommunications network, both fixed and cellular. He added that
the Company’s activity in Armenia in 2007 was efficient enough. "The
only problem we are concerned about and which paid attention to is
loss of our share in the cellular business in Armenia", D. Pleskanos
said. As he said, reduction of the market share by 10% to 27% was
fixed over 2007. "Presently, the Company has 600,000 subscribers of
cellular communication". According to him, upgrading of the network
and transfer to a new supplier of equipment are among the main reasons
of reduction of the market share. Moreover, he added, activity of
the competitor – the second cellular operator in Armenia – was not
taken into account. "We insufficiently responded to the activity our
business partners have shown", he said.

To recall, "Vimpelcom" OJSC belongs to "ArmenTel" CJSC.

From: Emil Lazarian | Ararat NewsPress