CEO: ORANGE ARMENIA TO INVEST $50 MLN IN NETWORK DEVT IN 2010

Prime-Tass English-language Business Newswire
May 6, 2010 Thursday 4:37 PM EET
Russia

France Telecom’s Armenian mobile subsidiary Orange Armenia plans
to invest U.S. $50 million in network development in 2010, Orange
Armenia CEO Bruno Duthoit said at a news conference Thursday.

Orange Armenia expects its mobile network to cover 93% of the territory
of Armenia by August, expanding the coverage from the current 83%,
Duthoit said.

The company, which started mobile operations in November 2009, plans
to become profitable by mid-2011, according to Duthoit.

In November 2009, France Telecom said it would invest a total of 150
million euros in Armenia in 2009-2011.