Veon Armenia (formerly ArmenTel)

Telecom Armenia CJSC, or Telecom Armenia (formerly VEON Armenia and Armentel), is owned by TEAM LLC, founded by Ike and Alexander Yesayany. As of August 2021, Telecom Armenia CJSC operates under the Beeline brand.

History

2020: Veon Armenia sold to Team LLC

In early June 2020, it became known about the sale of the Armenian business Veon. The owner of the Russian VimpelCom sells Veon Armenia (operating under the Beeline brand) to Team LLC, which is owned by brothers Ike and Alexander Yesayan - the founders of the mobile operator and Internet provider UCom. The financial terms of the agreement are not disclosed.

For approval of the purchase of 100% of the Armenian subsidiary Veon, Team contacted the local State Commission   for the Protection of Economic  Competition  (GKZEK).

Owner of VimpelCom sells Armenian business

Veon has been negotiating for several months to sell its business in Armenia. Previously, they tried to conclude a deal with Ucom, but it fell through after Hayk Yesayan announced his final departure from the company on April 20, 2020. This decision was made after the board of directors rejected the proposal to redeem the majority stake (94.01% of the shares) of Ucom for about $70 million.

The Yesayan brothers did not like the prospect that after the takeover of Veon Armenia, the united company could be headed by the current general director of the Armenian "daughter" Veon, Russian citizen  Andrei Pyatakhin. The Yesayan brothers  left the company, another 800 employees did the same.

According to Grigor Saghiyan, Vice Chairman of the Armenian Internet Community Organization, the most attractive asset for buyers is underground communication cables or the so-called cable sewer. Along with infrastructure, it is a key factor in building high-speed 5G mobile networks, the expert noted.

It [cable infrastructure] will become almost indispensable, because new antennas and equipment can be purchased in principle , but it is almost unrealistic to drill a new underground network throughout Yerevan , "Sagiyan emphasized.[1]

2016

According to the information for 2016, Armenia Telephone Company CJSC (ArmenTel CJSC - Beeline trademark) is the largest telecommunications company in Armenia. The company was founded in March 1995 by decision of the Ministry of Communications of Armenia together with the American company Trans-World Telecom.

2007: Start providing broadband Internet access service

Since 2007, the company has been providing Hi-Line service - broadband Internet access using ADSL technology, which has significantly reduced Internet prices in Armenia and spurred competition. ArmenTel consistently develops this service, increasing capacity and expanding geography and price spectrum.

2006: Joining the Vimpelcom Group

Since November 3, 2006, ArmenTel CJSC has been part of the VimpelCom Ltd. Group of Companies, which is one of the world's largest integrated telecom operators.

ArmenTel provides mobile communication services of the GSM 900/1800 and 3G (UMTS) standard, fixed telephony, as well as Internet access using CDMA and ADSL technologies under the Beeline brand throughout Armenia.

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