ArmInfo. Former director and founder of one of the largest Armenian telecommunication companies Ucom Hayk Yesayan founded a new company. He announced this in his microblog on Twitter. "On April 20, 2020, Alexander Yesayan and I registered the" OLNET "limited liability company, which will provide innovative digital telecommunication services to Armenian consumers," Yesayan wrote.
To note, on April 14, the Ucom Board of Governors dismissed the director general of the company, its minority shareholder Hayk Yesayan. Before that, Hayk Yesayan, who owns with his brother Alexander a 5.94% stake in the company, suggested that the majority shareholders represented by the owners of the Galaxy group of companies redeem their shares in Ucom for more than $ 60 million, but were refused. Yesayan then said that his decision to leave the company was also motivated by the fact that his candidacy was not considered as the head of the company after the possible merger of Ucom and Beeline Armenia. This possible deal is still under consideration in the antimonopoly department of Armenia. According to market participants, the new company has every chance to occupy a certain niche in Armenia's fiercely competitive telecommunications market if the resources announced earlier for the purchase of Ucom are invested in "OLNET". The origin of this money is still unknown. It is unlikely that they can be borrowed, experts say. At the same time, analysts believe that even in this case it will be difficult for a new company to break into the "top", since the level of profitability of the telecommunications market has been constantly decreasing and approaching zero in recent years. They believe that there is already not enough space for all companies in the market of Armenia, which is narrowing in terms of capacity and solvency.
