Orange Sells Armenian Subsidiary to Local ISP
Published on: 9th Aug 2015
Note -- this news article is more than a year old.
Orange has announced that it has signed an agreement with Ucom, an Armenian internet service provider, to sell its mobile subsidiary Orange Armenia.
The company did not say how much it sold the subsidiary for, although it has been previously reported that Orange has sunk around USD700 million into the network, and is not expected to receive the full amount back.
Orange Armenia was established in 2009 after the Orange group acquired a mobile telecoms license. Orange has since deployed one of the country's most extensive 3G+ networks both in the capital Yerevan and in rural areas, and is the leader in mobile internet.
Orange Armenia had 630,000 customers at the end of 2014 and employs 500 people.