ArmInfo.The sell of the Armenian company GNC-Alfa CJSC, which represents the brand of the Russian telecommunications giant Rostelecom in the country, did not take place, and the prospect of selling the company is uncertain. This is reported by CivilNet, pointing out that the reason for the failure is the Russian-Ukrainian crisis, or rather, Western sanctions against Russian companies that did not allow the buyer to attract credit resources and make payments to close the deal.
An attempt to get at least some comment from the company itself also failed. The marketing and PR department asked to be contacted later, after which they simply stopped answering calls.
As ArmInfo previously reported, on January 19, 2022, the Public Services Regulatory Commission (PSRC) of Armenia approved the sale of the 100% shares of Filor Ventures Limited, the only stockholder of Rostelecom Armenia, (GNC-Alfa, daughter company of Rostelecom), to Molitro Holdings Limited (Cyprus) founded by RA citizen Arman Hunanyan and the Electric Networks of Armenia CJSC.
According to the Commission's decision, on January 19 the Commission received an application from the GNC-Alpha CJSC according to which the RA citizen Arman Hunanyan and the Electric Networks of Armenia CJSC intended to incorporate a new company, Molitro Holdings Limited, in Cyprus, which will purchase 100% of the shares of Filor Ventures Limited, the only stockholder of GNC-Alpha. Thus, GNC- Alpha, applied to the Commission for permission to sell the shares of Filor Ventures Limited to Molitro Holdings Limited. Besides, in response to the Commission's inquiry, GNC-Alfa assured the Commission of Molitro Holdings Limited's readiness to invest in GNC-Alfa to ensure its operation and development. It was also noted that The issue was discussed at the RA Ministry of High-Tech Industry, which did not object to the transaction after consulting the RA National Security Service. According to the Commission, the transaction can be effected within six months after the Commission's decision takes effect.
The Electric Networks of Armenia CJSC is owned by the founder of the Tashir group Samvel Karapetyan and his family. Also, through the Russia-based Forabank the Karapetyan family own almost 11% of the Ucom company, which is one of Armenia's mobile operators. Ucom gave assurances earlier that they are not a direct or indirect purchaser of GNC-Alfa. GNC-Alfa, daughter company of Rostelecom, was founded in 2007. Rostelecom purchased 75% minus one share of GNC-Alfa for $22.5mln in February 2012. That was the first purchase of a provider outside Russia. At the same time, Rostelecom was granted an option on the purchase of the rest 25% plus one share of GNC-Alfa.
In August 2019, purchased the rest 25.02% of GNC-Alfa for RUB 507mln. It was in the winter of 2018 that the media first reported Rostelecom's intention to sell its daughter company. "We are thinking about how much this business is complementary to us. Our task is not to sell it. However, other global actors' experience shows that such inter-country synergy is not obvious," Mikhail Oseevsky, Rostelecom President, stated then. "Different laws, different client base, products. So we are thinking about how we can most effectively organize our work - including through sale," he said. In mid-September 2021, Mikhail Oseevsky stated that the company was seeking a purchaser of the Armenian communication operator GNC- Alfa, with the opening bid of about $25mln.
Rostelecom-Armenia is one of the leading telecommunication operators in Armenia, which has since 2021 been providing broadband Internet access, smart IP TV services, high-quality stationary telephone communication, and a number of cloud-based services to individuals and corporate clients. The company has introduced the GPON technology in Armenia. The company's optic- fiber network has a total length of 2,500km and covers 80% of Armenia's territory. The network is connected to the regional mainline communications networks and international Internet channels through Georgia and Iran. Rostelecom Armenia is the only Armenian company that has three international channels connected to Russia an Europe, which are both physically and geographically separated from each other, which is a guarantee of reliable and uninterrupted services. In 2020, Rostelcom Armenia launched cooperation with CenturyLink, one of the world's major Internet providers, thereby diversifying its transnational Internet resources.
