GNC-Alfa shareholders consider the possibility of selling the business

Yerevan/Mediamax/. Three Russian companies consider the possibility of buying the Armenian main operator GNC-Alfa, “Komersant” newspaper writes today.

The newspaper reports that the company is estimated at $50-60mln, and France Telecom can compete with MTS, “Rostelecom” and “Transtelecom (TTC) for the deal.

GNC-Alfa CEO Hayk Farmazyan confirmed reports that the shareholders are considering the possibility of selling the business entirely or only part of it. “We have hired advisers to conduct the potential transaction. As far as I know, purchase offers have already been sent to several Russian and European companies,” he told the newspaper.

Mediamax recalls that in October 2010, GNC-Alfa and “Rostelecom” OJSC signed an agreement on providing services under “Rostelecom” trademark on the territory of Armenia. The agreement envisaged provision of following services by “Rostelecom” to Armenian customers: IT-transit, internet for corporate clients and channel lease.

Hayk Farmazyan said then that they were planning to expand the range of “Rostelecom’s” services in Armenia, noting that the agreement did not envisage acquisition of Armenian company’s assets by “Rostelecom”.

GNC-Alfa also cooperates with “VivaCell-MTS’, the affiliate of MTS in Armenia. In late 2009 “VivaCell-MTS” signed an agreement with GNC-Alfa, and purchased a fiber-optic cable passing from Yerevan to the Armenian-Georgian border within the framework of that agreement.