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

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) и VTEL Holdings/Knightsbridge Associates passed to the second round of the tender, the results of which are not announced yet.