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Monday, November 06, 2006

Vimpelcom moves into Armenia

Well, it looks like the unofficial reports quoted to PanARMENIAN.net were incorrect when they reported the winner of auction of OTE’s 90% stake in Armentel. This makes my reporting look a little premature (and stupid) - never mind I don't suppose it will be the last time.

Now, it looks like the winner is the Russian #2 operator, Vimpelcom, who won with a bid of €382m. However in Russian cellular nothing seems to be certain even when contracts are signed and exchanged. Remember the brawl going on in Kyrgyzstan? There are rumours that Vimpelcom is going to buy this asset as well. I wonder if Vimpelcom is bothering to consult Telenor about the purchases?

Armentel currently has around 40% market share and it will be interesting to see how hard Vimpelcom actually compete. I'm not sure who owns the other operator, VivoCell, but I can guarantee that MTS/Sistema are lokking at buying the asset.

With such a Gordion knot to untangle, who in their right mind would become a partner of Altimo?