VIVACEL OWNER TO INVEST IN ARMENIAN MINING INDUSTRY
ARMENPRESS
Jul 12 2007
YEREVAN, JULY 12, ARMENPRESS: Pierre Fatouche, a Lebanese businessman
and head of Fatouche Group, which owns the controlling stake in
Armenia’s second mobile telephone operator-VivaCell- said today his
company intends to expand the geography of its operations in Armenia
and invest in other economy branches.
Particularly, he said the company is negotiating with Armenian
authorities options of investing into the mining industry. Pierre
Fatouche cited the ‘very favorable’ Armenian legislation and ‘the
political stability’ as the main motives behind his decision to expand
operations in Armenia.
"Our company believes in Armenia’s future and trusts its authorities,"
he said.
Fatouche Group took hold of telecommunications sector of
Nagorno-Karabakh in 2002 through K-Telecom which later opened VivaCell
in 2005.
Hussein Rifan, a VivaCell board member, said the company is going to
place its shares on Armenia’s stock exchange to make them available
to all Armenians. According to him, this will happen in 2008.
Viva Cells chief manager Ralf Yirikian said the company holds 67
percent of Armenia’s mobile phone market.
According to Pierre Fatouche, his company has invested 250 million
euros in Armenia.
From: Baghdasarian