Russian national operator Rostelecom is looking at selling its Armenian subsidiary GNC-Alfa, providing services under the Rostelecom Armenia brand, reports Cnews.ru. The company Armenian Power Networks, controlled by the Tashir Group, is the planned buyer. The group is owned by Samvel Karapetyan, an Armenian businessman.
Armenian Power Networks has already sent an application to the national competition watchdog for the acquisition of 100 percent of GNC-Alfa. The company plans to acquire the operator on behalf of its offshore subsidiary Molitro Holdings.
Rostelecom acquired 75 percent in GNC-Alfa in 2012 for USD 22.5 million. In 2019, the Russian national operator raised its stake to 100 percent, paying RUB 507 million for the remaining 25 percent stake.
Karapetyan already owns a 16 percent stake in Armenian operator Ucom.
