ArmInfo.VEON (parent company of VimpelCom) announced that it had agreed to sell its business in Armenia "VEON Armenia" by Team LLC. This was reported by Interfax with reference to the company's press service. The deal is expected to close soon.
VEON explained the deal with a desire to simplify the group's business structure and focus on markets with attractive long-term growth prospects.
The talks on the sale of VEON's Armenian business to the local company UCom were reported back on January 15. In early May, it became known that VEON had abandoned these negotiations. At the beginning of 2020, the Armenian media reported that the UCom deal on the purchase of "VEON Armenia" could take place in early 2020. Earlier, the company applied to the Public Services Regulatory Commission (PSRC) of Armenia, informing about its intention to buy out the asset. "VEON Armenia" has been providing communication services in the country since 1995, since 2008 it has been operating under the Beeline brand. The company provides telephone services GSM 900/1800, 3G and 4G, fixed telephony, and also provides Internet access using CDMA, ADSL, FTTB and VDSL technologies.