Rostelecom acquired GNC-Alfa for $22,5mn

Yerevan/Mediamax/. The subsidiary of Rostelecom Teleset Networks, working in Tatarstan, acquired 75% minus 1 share of GNC-Alfa Armenian operator for $22,5mn (RUB 682mn), Russian media reports.

Mediamax recalls that in October 2010, GNC Alfa Rostelecom signed an agreement on starting service provision under Rostelecom brand on the territory of Armenia.

GNC-Alfa CEO Hayk Farmazyan informed Mediamax then that the agreement envisaged rendering Armenian customers Rostelecom services, such as IP-transit, internet connection for corporate customers and provision of connection channels for rent. He also said then that the agreement did not envisage purchase of the assets of the Armenian company by Rostelecom.

In May 2011, GNC-Alfa CEO Hayk Farmazyan confirmed reports that the shareholders were 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 used to say.