15 years ago VimpelCom bought ArmenTel

#Armentel #Beeline #VimpelCom

15 years ago, on November 3, 2016 Russia's mobile operator VimpelCom under Beeline brand stated that it had agreed a deal to buy 90 percent of Armentel from Greece's largest telecoms operator OTE for 341.9 million euros and assume around 40 million euros in net debt and obligations.

VimpelCom Chief Executive Alexander Izosimov, commenting on the deal stated that "with approximately 40 percent mobile market share, Armentel occupies a strong position in the Armenian market and we will work to enhance the position."

VimpelCom worked in Armenia for 14 years, selling its business to the Armenian Team company in October 2020.