(ARKA) - The RA Government surrendered its preemption right to the purchase of 90% of shares of the ArmenTel Company - 169,539,381 shares for EUR 341,888,105.
The Greek OTE Company purchased 90% of ArmenTel shares for $142.5mln and later invested up to $300mln in the company. The rest 10% of the shares are held by the RA Government, reports Trend.
On November 8, 2006, RA Minister of Transport and Communication Andranik Manukyan stated the RA Government's intention to sell 10% of ArmenTel shares to the Russian "Vympelcom" company in exchange for relinquishment of telecommunication monopoly in Armenia.