Telecom operator in Armenia “Telecom Armenia” CJSC has pledged 100% of its shares. We are informed about that at the January 12 sitting of the Public Services Regulatory Commission from the agenda.
In 2020, “Telecom Armenia” acquired “Veon Armenia”, representing the “Beeline” brand. The shareholder of “Telecom Armenia” is “Tim” LLC, the owners of which in their turn are Hayk Ես Alexander Yesayan. Before founding a new telecommunications company, the brothers were shareholders և directors Յ of Ucom and left the company due to disagreements with major shareholders. At what price was “Veon Armenia” acquired? was not reported, Hayk Yesayan considered it a commercial secret.
As we are informed from the draft decision, “Team” LLC together with “Telecom Armenia” has initiated to attract new loans for capital expenses and refinancing. They will be involved from the International Finance Corporation, the European Bank for Reconstruction and Development, Ameriabank, and the company’s shares will be pledged in favor of these three banks.
On December 30, the Armenian Ministry of High-Tech Industry informed the commission in writing that it did not object to this share mortgage deal. It is not clear from the decision of the PSRC how much the newly attracted loan will be.