FRANCE TELECOM INTENDS TO INVEST $80 MLN IN ARMENIA IN 2009

ArmInfo
2009-06-09 17:36:00

ArmInfo. Armenian President Serzh Sargsyan received France Telecom Vice
President for Mobile Communication Olaf Swantee and Director General of
Orange Armenia, the branch of France Telecom in Armenia Bruno Duthoit,
the Armenian presidential press-service told ArmInfo. According to
the France Telecom representatives, at the moment the task is set
to completely prepare for providing services in Armenia by late 2009
with the purpose to work no only in Yerevan but also in regions. It
is envisaged to invest $80 mln over the year.

Serzh Sargsyan expressed confidence that France Telecom’s activity in
Armenia will contribute to further liberalization of telecommunication
market and may become a basis for development of fields of economy. He
pointed out that the telecommunication sector in Armenia has a big
potential for development in respect of both services and tariffs. The
president stressed the significance of the new operator’s entry for
several reasons.

First, France Telecom will bring its experience and a wide spectrum
of services to Armenia, second, the entry of the new operator’s to
the market will increase the level of competition, which will be
profitable for consumers, third, a big number of investments will be
made in the country, new job positions will be created.

"We want one of the leading telecommunication operators of the
world to start working in Armenia as soon as possible",- Sargsyan
stressed. He added that the government is ready to help the company
to carry out the working tasks. France Telecom Vice President Olaf
Swantee presented the programs of Orange Armenia, the company’s work
on development of infrastructure. Swantee stressed that they are
glad to work in the Armenian market and assured that they will not
disappoint their clients.

As of March 31, 2009, France Telecom had 184 mln subscribers in 30
countries, 123 mln of them are mobile communication subscribers. In
2008 France Telecom’s turnover amounted to about 53.5 bln EUR, in
I qt 2009 – 12.7 bln EUR. In November 2008 France Telecom received
a licence to provide cellular communication services and mobile
internet-communication in Armenia for 15 years having paid 51.5 mln
EUR. To operate in Armenia, France Telecom set up a 100% branch –
Orange Armenia.