During a recurrent sitting on November 9 the Armenian government decreed to refuse from purchasing 90% of ArmenTel stocks belonging to OTE Greek company for 341.9 million euros. As reported by the RA government’s press office, the decision was taken on the basis of ArmenTel’s regulations, the law “On Joint Stock Companies” and agreements concluded between the RA government and ArmenTel.
To note, on November 3 VympelCom Russian company announced of the agreement concluded with OTE on the purchase of ArmenTel’s 90% package. The Armenian government, the holder of 10% of the stocks should give consent on selling of the package to the company that won the tender. The RA government is also ready to sell its 10% package in case ArmentTel’s new owner refuses from monopoly rights, reports IA Regnum.
