YEREVAN (Armenpress)–Negotiations between the Armenian government and the Hellenic Telecommunications Organization (OTE)–the owner of 90 percent of ArmenTel’s shares are continuing–said Justice Minister David Harutunian. According to the minister–an OTE delegation is expected to arrive in Yerevan early in February to sort out disputes with the Armenian government over the Armentel monopoly.
The Armenian government is requesting the revision of provisions of the 1998 purchase deal so that monopoly terms can be softened. The disputes stem from different interpretations of mutual obligations under the $205 million deal.
According to Harutunian–the upcoming negotiations may lead to certain changes in provisions of the license that gran’s OTE 15-year exclusive rights to all forms of telecommunications in Armenia. ArmenTel’s monopoly is one of the obstacles standing between Armenia and its long-standing bid to join the World Trade Organization.
Harutunian added that the two parties will try to clarify OTE’s investment commitmen’s. Under the terms of its purchase of ArmenTel–the Greek firm was supposed to invest $100 million in Armenia’ hone network by last March–but failed to meet its obligations.