STATE OKS VIMPELCOM’S ARMENTEL PURCHASE
TeleGeography, DC
Nov 15 2006
According to reports from the Russian Prime Tass news service,
the government of Armenia has rubber-stamped Vimpelcom’s proposed
acquisition of a 90% stake in its national fixed line PTO ArmenTel.
Earlier this month Vimpelcom announced it had it agreed terms with
Hellenic Telecommunications Organisation (OTE) of Greece to buy the
latter’s stake in the operator for around EUR341.9 million (USD436.3
million), plus EUR40 million in debt. In a press release the Russian
firm said the deal is expected to be formalised before the end of 2006.