19:42 | 22.04.20 | News | exclusive 13119

Gurgen Khachatryan comments on developments in Ucom

Co-founder of Galaxy Group of Companies, President of the Board of Directors of Ucom Gurgen Khachatryan has spoken out about the developments in Ucom for the first time.

He has given an interview to Mediamax Director Ara Tadevosyan in the new edition of “Red Thread” interview series.

You can watch the full interview below.


Gurgen Khachatryan has said that Ucom shareholders held regular discussions and there were professional disputes, “which is a normal process that helps the company to progress”. He has noted it remains to be seen why the disputes have traveled into the public domain and grown more severe than they actually were.

Khachatryan has also stated that Ucom shareholders have been partners and friends for the last 12 years and Hayk Yesayan has played a major role in establishment of Ucom, which is why the board has offered him to join its ranks and chair it.

Gurgen Khachatryan has underlined that Ucom is an established company thanks to the hard, devoted work of its 1,700 employees.

“We don’t want any member of the staff to quit. We will do everything possible to keep the company operating,” he said.

Commenting on Hayk Yesayan’s offers to buy the majority of shares, Gurgen Khachatryan has said that the answer could not be given within hours or days.

Touching on possible deal with VEON Armenia (Beeline Armenia trademark), Gurgen Khachatryan has said the telecom industry is undergoing consolidation in recent years, which enables to operators to maintain efficiency and invest in new technologies.

“The capital, which can be generated from merged companies, should be managed in Armenia,” said Gurgen Khachatryan, stressing that all Ucom shareholders agree on that.

He has also commented on opinions that the main goal of the merger deal is to save Ucom, which is not in a good condition economically, and the main role is supposed to be given to Tashir Group owner Samvel Karapetyan, who holds 16% of shares in Ucom.

Gurgen Khachatryan has said that the shareholders discussed various ways of financing the deal. “Funds might be attracted from international organizations. Ucom can also become an open joint stock company,” he said.

“This is not a rescue situation, no one is coming to “save” anyone, but I have to thank our partners in Tashir Group – the Ucom network we have today is also a result of their investments. We have a great partnership,” said Gurgen Khachatryan.

The “Red Thread” series is available on Youtube and Mediamax’s Facebook page.