Regulator to consider sale of Rostelecom’s Armenian asset on Wed

YEREVAN, Jan 17 (PRIME) -- Armenia’s Public Services Regulatory Commission will consider on Wednesday an application on acquisition of 100% of GNC-Alfa, of Rostelecom Armenia, a unit of Russian state-controlled telecom and digital company Rostelecom, according to the regulator’s website seen by PRIME on Monday.

Rostelecom acquired 75% minus one share in GNC-Alfa in February 2012 for U.S. $22.5 million, which has been the operator’s debut purchase abroad. Rostelecom received then an option for the remaining stake.

The operator consolidated GNC-Alfa in August 2019 for 507 million rubles.

Rostelecom President Mikhail Oseyevsky said in December that the company is looking for a buyer of the Armenian fixed-line operator with a starting price set at about $25 million.

(75.7668 rubles – U.S. $1)

End %%ee/jst%%