VEON announced on Wednesday, May 6 that they have withdrawn from discussions with Ucom related to a potential transaction involving its operating company in Armenia (Beeline)

The potential deal was was first disclosed on January 15, when it was reported VEON Armenia (trademark Beeline) has applied to the Public Services Regulatory Commission to get permission to sell its shares to Ucom mobile operator.

VEON Armenia CJSC (formerly ArmenTel) is an Armenian broadband and telecommunications company. It is part of VEON (formerly VimpelCom Ltd.), one of the world’s largest integrated telecommunications services operators, headquartered in Amsterdam, the Netherlands.