Ucom confirms negotiations with VEON

Armenian fixed and mobile services provider Ucom has confirmed it is negotiating with leading international communications and internet services provider VEON (NASDAQ and Euronext Amsterdam) on the purchase of the latter’s Armenian subsidiary (Beeline trademark).

The negotiations may or may not lead to a deal.

“As the global mobile communications market is shifting from voice services towards data transfer services and Armenian market is not exempt from global tendencies, Ucom is gradually transforming into a digital company with the purpose of providing a wider range of services through upping the coverage and quality of its network to the maximum. We expect the possible deal to lead to more customer-oriented offers and improvement of the company’s infrastructure. The synergy implied in the deal will enable Ucom to invest in new technologies and increase the network’s capacity, develop better convergent offers and exceed the market’s expectations, providing high-quality fixed and mobile communications services to subscribers,” Ucom said in a press statement.

The company has added that it will release updates on the negotiations according to the norms set in the regulations for the sector.