July 24, 2006 - 14:22 AMTPanARMENIAN.Net
- System Russian Holding and an international consortium formed by VTEL Holdings Indian company and Knightsbridge Associates (said to be backed by a well known Armenian entrepreneur) will become the new owners of ArmenTel's 90% stocks, reported ComNews Russian news agency with a reference to a source close to the negotiations and tender proceedings. The Russian holding will own the PSTN while the Indian-Armenian consortium will obtain the cellular communication. These are the results of the tender announced by OTE Greek company, the owner of ArmenTel 90% stocks.
"OTE promised to publish the outcomes of the tender late July or early August. Anyway System
will be the winner but to all appearance it will have to share ArmenTel with VTEL Holdings/Knightsbridge Associates," the source said. System's PR Officer Irina Potekhina neither refuted not confirmed the information. In her words, the results will be known in early August.
According to ComNews the tender was marginally provoked by Altimo Russian company, which offered $360 million for ArmenTel's 90% stockshare. However OTE considered the sum as a starting point. "Atlimo's mistake was that it listed the support of an official of the Armenian government and thought it's enough," the source said. It should be noted that OTE is not empowered to sell its stocks without the consent of the Armenian government, which owns 10 percent of the stocks.
To note, Deutsche Telekom, TeliaSonera and Tele2 Swedish companies and CBOSS (Russia), who also wished to purchase ArmenTel's stocks failed in the first round. "The price is not a decisive issue for OTE. It highlights political motives. These companies might have proposed a greater sum that System has," the source supposed, ComNews says.