Tuesday, July 7 2020 17:35
Emmanuil Mkrtchyan

Issue of concentration of two telecommunication companies of Armenia  was discussed at meeting of SCPEC

Issue of concentration of two telecommunication companies of Armenia  was discussed at meeting of SCPEC

ArmInfo. The issue of  concentration of LLC and Veon Armenia CJSC was discussed at a  meeting of the State Commission for the Protection of Economic  Competition(SCPEC) of Armenia on July 7.

According to the press service of the SCPEC, during the open-door  meeting, the main provisions of the possible concentration of  companies were presented. In particular, it was noted that on June 8,  2020, the companies applied to the State Commission for the  Protection of Economic Competition, saying that "Tim" LLC plans to  acquire 100% of the shares of "Veon Armenia", requesting permission  for concentration, on the basis of which, production was initiated  according to established order.

provides fixed, mobile telephone and Internet access  services, as well as sells equipment.  According to sourse,  integration will have a positive impact on the telecommunications  sector by providing new services as well as lowering prices.

Head of the SCPEC Gegham Gevorgyan noted that the Commission carried  out a large-scale study of the country's telecommunications sector,  the development and integration tools in the world over the past 5  years were also studied. The degree of market centralization,  technical capabilities and abilities of the main market players were  also evaluated.

At the request of the participants, the main part of the meeting was  held behind closed doors, taking into account that information  containing trade secrets will be presented during the discussions. In  response to a request from the Chairman of the Commission, the  responsible person of LLC assured that in the event of  permission for the transaction, mass dismissals of employees will not  occur.

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10 billion

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Maximum yield

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