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10% of ArmenTel Shares Passed to Management of Minister Communicatio

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  • 10% of ArmenTel Shares Passed to Management of Minister Communicatio

    10% of ArmenTel Shares Passed to Management of Minister Communication of Armenia

    PanARMENIAN.Net
    03.11.2006 15:10 GMT+04:00

    /PanARMENIAN.Net/ During a session yesterday the Armenian Government
    passed the authorities on management of 10% of shares of ArmenTel
    telecommunication company, held by the Government, to Minister of
    Transport and Communication Andranik Manukyan, reports the Press
    Office of the Government.

    The decision is adopted by the Armenian Government in compliance with
    the Law on Joint-Stock Companies.

    ArmenTel is the major telecommunication company of Armenia. 90% of
    its shares are held by OTE Greek company, while the Government has
    10%. This year OTE announced a tender to sell its shares. 16 companies
    took part in it. Russian VimpelCom and MTC, as well as ETISALAT
    (Emirates Telecommunications Corporation/Istithmar ETV -Emergent
    Telecom Ventures) VTEL Holdings/Knightsbridge Associates passed to the
    second round of the tender, the results of which are not announced yet.
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