OTE GREEK COMPANY AGAIN THREATENS TO SELL ARMENTEL SHARES

PanARMENIAN.Net - In case of coming to power in Greece New Democracy party intends to sell 35% of OTE shares belonging to the Greek government and 90% of shares of ArmenTel Armenian-Greek company, a source in OTE reported to Arminfo agency. New Democracy party, which has a chance to win the majority of votes at the parliamentary elections in April 2004 speaks for privatization of most of the companies in the sphere of communications and energy. The auditing process, evaluation of the shares and tender preparations will last 8-10 months, thus OTE will be completely privatized by the end of 2004. According to the source, ArmenTel's shares will be sold for getting maximum profit. OTE does not rule out that TurkCell Turkish company may appear among the other claimants to ArmenTel's stocks. To note, ArmenTel is the monopolist of the Armenian telecommunication network at present.