Russian VimpelCom Became Owner of ArmenTel CompanyNovember 4, 2006 - 13:47 AMT PanARMENIAN.Net - VimpelCom Public Corporation announced November 3 the signing of an agreement with the Greek Hellenic Telecommunications Organization SA (OTE) on purchase of 90% of ArmenTel CJSC shares, which is communication services operator of Armenia. The 90% of ArmenTel shares make EUR 341.9 million plus some EUR 40 million as the company pure debt and obligations. The deal is planned to be formalized before the end of 2006, VimpelCom Press Office reported.ArmenTel is the major telecommunication company of Armenia of which the Government has 10%. OTE Greek company, which holds 90% of its shares, announced a tender on selling these this year. 16 companies took part in it. Russian VimpelCom and MTC, as well as ETISALAT (Emirates Telecommunications Corporation/Istithmar ETV -Emergent Telecom Ventures) и VTEL Holdings/Knightsbridge Associates passed to the second round of the tender, the results of which are not announced yet. The OTE had bought ArmenTel at USD 142.47 million. Before November 4, 2004 ArmenTel was the monopolist at the cellular market of Armenia. In November 2004, in exchange for deprival of monopoly rights for GSM services, ArmenTel got a prerogative for IP-telephone services. Thus, K-Telecom came to Armenia with a trademark of VivaCell - a branch structure of Nagorno Karabakh communication operator. Armenian PM Manukyan had stated that the purchaser of ArmenTel should refuse monopoly to a number of activities and the pretenders to the buying of the shares agreed to that condition, reports IA Regnum. Top stories The Cabinet of Ministers decided on Thursday, November 9 to allocated AMD 120 million to arrange the gathering. Michael Roth believes sanctions must be put on the table after Baku‘s ethnic cleansing in Nagorno-Karabakh. The Yerevan City Council has elected Tigran Avniyan from the ruling Civil Contract as the mayor of the Armenian capital. The Armenian Parliament on Tuesday, October 3 voted to ratify the Rome Statute of the International Criminal Court. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |