GREEKS MAY GIVE CONTROL OVER ARMENTEL

PanARMENIAN.Net - It's evident that despite the informal alliance between the socialists and the communists (which form the third biggest faction in the parliament), the conservatives will form the Cabinet of Ministers independently. Greece is suffering a serious economic crisis and the new democrats believe its solution is the ''total privatization''. Leaders of the conservative party have always stated their intention to sell the state share of OTE Company holding the 90% of the shares of the Armenian telecommunications' monopolist ''ArmenTel''. OTE used to be a state enterprise once but then the 65% of its shares were sold. However, the government continues to be the biggest shareholder of the company.

The shares of OTE hold by the state probably may be sold this year. It is supposed that he privatization of the company will take 8-10 moths. So, next year ArmenTel may have a new shareholder. ''France Telecom'', ''Telecom Italia'', the British "Cable & Wireless" and even the Turkish ''Turk Cell'', which is the biggest operator in Azerbaijan and works also in Georgia, have shown interest towards the privatization of the company.

The new holder of the biggest share of OTE will have to decide whether to remain in the Armenian market of telecommunications or not. The nowadays administrators of OTE has already started the process of sale of ArmenTel's shares. They started to negotiate with Russian Rostelecom in autumn 2003. The negotiations were delayed because of the elections but the privatization process may continue. It is natural that in order to have a full control over the process of privatization the Minister of Communication of Greece may change the OTE administration. This will lead to change of ArmenTel's administration. So, the terms of depriving the monopoly on mobile communication will be probably discussed with other people. While the Executive Director of the company, Georgios Vasilakis, will evidently have to leave the country.