Greek Company Interested in ArmenTel Purchase

YEREVAN (Golos Armenii)–According to official information Noyan Tapan published recently– three companies applied for acquisition of the national communications company Armentel–but none were able to meet the deman’s of the privatization commission.

The companies have not been named. Armenian Azat Or daily of Athens reported on Aug. 12–that the board of Greek national communications company is willing to buy ArmenTel. The company has recently acquired 20 percent of stock of the Greek telephone network for about $190 million and carries out negotiations for similar transactions in Moldova– Romania and Bulgaria.

Some 49 percent of Armentel’s stock belongs to the US Trans World Telecom–which now carries out negotiations directly–through the Merril Lynch Financial Corporation. According to the conditions of the agreement– the buyer is obliged to provide reliable communications between Yerevan and 800 settlemen’s in Armenia–and build four new telephone stations in Yerevan.

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