Russia’s Sistema Eyeing ArmenTel


TeleGeography, D.C.
June 5 2006

Russia’s Sistema Group has submitted a tender offer to acquire
Armenian fixed line operator ArmenTel, the company’s chairman
Vladimir Yevtushenkov told journalists today. Although Sistema does
not consider the purchase a strategic priority, the company says the
acquisition would make sense from the point of view of expanding to
cover all former Soviet Union countries. ArmenTel is the dominant
telecoms company of Armenia. OTE of Greece holds 90% of its shares,
while 10% belongs to the Armenian government.