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Vimpelcom To Reject Monopoly That Armentel Enjoyed

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  • Vimpelcom To Reject Monopoly That Armentel Enjoyed

    VIMPELCOM TO REJECT MONOPOLY THAT ARMENTEL ENJOYED
    By Ara Martirosian

    AZG Armenian Daily
    15/11/2006

    Russian Company Comes to Substitute OTE

    Russian Vimpelcom Communications Company became the new owner of
    ArmenTel yesterday. The Commission Regulating Public Services gave
    its consent to the deal of selling 90% of ArmenTel and Greek OTE
    Company's shares. The Commission's decision reads that the deal does
    not go against Armenia's national interests and that the new owner
    gets all the rights and obligations of ArmenTel. Yet, the new company
    will not enjoy the monopoly that ArmenTel used to enjoy anymore.

    Representatives of the two companies made statements during signing
    of the deal. ArmenTel Executive Director, Vasilis Fetsis, asked the
    Commission to agree to the agreement between OTE and Vympelcom. He
    emphasized that Vympelcom is a trustworthy company with a big
    representation in the communications sphere.

    Representative of Vimpelcom, the candidate for ArmenTel general
    director Oleg Bliznuk said that the deal will be completed this
    week. He said that Vympelcom is going to introduce its experience and
    up-to-the-minute telecom technologies and to significantly improve
    the quality of phone services in Armenia. Bliznuk said that Vympelcom
    is negotiating with RA Government over the latter's 10% stake in
    ArmenTel. The Government requires that Vimpelcom gradually renounces
    the monopolies granted to ArmenTel by license 60. "Monopoly spoils
    a producer and only competition allows him to achieve high quality
    standards," says Bliznuk. He notes that they are considering changing
    the brand from ArmenTel into Beeline.
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