VimpelCom Buys Remaining Stake in Armenian Operator
Russia's VimpelCom says that it has completed the acquisition of 10% of the shares of ArmenTel from the Government of Armenia. The price of these shares is approximately Euro 38.6 million., which constitutes 1/9 of the final price paid by VimpelCom for 90% of the shares of ArmenTel acquired in November 2006. In addition, VimpelCom will pay an amount representing 10% of the retained net profit of ZAO ArmenTel for the period following the closing of the acquisition of 90% of the ArmenTel shares and up to the closing of the acquisition of 10% of the ArmenTel shares from the Government of Armenia.
ArmenTel is a fixed-line and mobile operator in Armenia with licenses in the GSM-900 and CDMA standards. ArmenTel's subscriber base includes approximately 608,500 fixed-line subscribers and 452,000 mobile subscribers."
Posted to the site on 18th April 2007
