ARMENIAN TELECOMMUNICATIONS MONOPOLIST "ARMENTEL" COMPANY SHARES ATTACHMENT BECAUSE OF ITS NON-FULFILLMENT OF ITS FINANCIAL OBLIGATIONS TO ARMENIAN GOVERNMENT

PanARMENIAN.Net - The attachment of a part of the shares of the Armenia's telecommunication monopolist "Armentel" Company is because of its non-fulfillment of its financial obligations to the Armenian government totaling $1 million. Armenian justice minister David Harutyunian has stated that in his interview with "Arminfo" agency. At that he denied to report on account of what the company got into the debt that became the reason of the decision of the Armenian economic court on measures towards "Armentel" company. The minister also found difficulty in answering what part of the shares exactly was attached explaining that with that the government has to count the market cost of every share and then taking as a base the fine sum to decide what part of the shares would be attached. If the owner of 90% of "ArmenTel" shares, the Greek Company OTE does not pay the sum of its obligations, the Armenian government will have to confiscate that part of the shares and conduct sales, Harutyunian noted.