Friday, April 10 2020 19:02

ArmInfo.The current situation at Ucom (the resignation of more than 50 top employees, including senior staff - Ed. note) is not related to the decision of the Public  Services Regulatory Commission (PSRC) to consolidate the company with  VEON Armenia (Beeline trademark).  

This was announced by Gegham Gevorgyan, head of the State Commission for the Protection of Economic Competition (SCPEC) during a press conference on April 9. He  explained that these two facts cannot be interrelated, since PSRC has  not yet submitted its final decision on the application for the  consolidation of VEON Armenia and Ucom CJSC, filed at the end of  December last year.

<Study and discussion are ongoing. When the results are ready, they  will be presented to the public>, - said the head of the SCPEC.

Gevorgyan recalled that on the basis of the submitted application,  more than 600 documents were studied, meetings were held with both  sides, and discussions were held with other telecommunication  companies and public organizations. According to the head of the  SCPEC, on March 19, it was planned to hold the next meeting of the  PSRC, dedicated to both the consolidation of VEON Armenia with Ucom,  and a number of other issues. However, due to the situation in the  country and the declared emergency, all meetings were canceled. <Work  is ongoing>, Gevorgyan concluded.

To recall, the VEON Armenia company, which owns the Beeline brand, on  its website officially announced negotiations with the Armenian  company Ucom to sell its business in the republic. At the end of  December last year, it became known that Beeline in Armenia applied  to the Public Services Regulatory Commission in order to obtain  permission to sell its shares to Ucom. "These discussions can either  end in a sale or not.  In accordance with regulatory requirements,  VEON will provide updated information if any," the message said.

"VEON Armenia" CJSC (Beeline trademark) provides fixed and mobile  communication services. Since April 2007, a 100% stake in VEON  Armenia CJSC (formerly ArmenTel CJSC) has been owned by Veon  International Group of Companies, which is one of the world's largest   integrated telecom operators