Veon confirms talks to sell Beeline Armenia to new operator Team

News General Armenia 9 JUN 2020
Veon confirms talks to sell Beeline Armenia to new operator Team

Ayk Esayan and Alexander Esayan, the former minority shareholders and managers of Armenian operator Ucom and co-founders of the new telecommunications company Team, plan to acquire the operator Beeline Armenia, controlled by the Veon Group. The information was confirmed by Ashot Barsegyan, the head of development and communication at Team, while Arka.cm reports the company applied already to the Armenian competition watchdog for clearance of the takeover.

The Veon Group confirmed that it has entered into discussions with Team regarding a potential transaction in Armenia, without providing further details. It earlier attempt to sell Beeline Armenia to Ucom but failed to reach an agreement. 

The Esayan brothers earlier left Ucom after a conflict with majority shareholders. Several hundred staff supported them and resigned. 

Categories:

General

Companies:

Ucom,  Veon,  Beeline Armenia

Countries:

Armenia

Tags:

M&A buyouts & divestments

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