Novatel: World-renowned companies will participate in the purchase of VEON Armenia

The process of purchase of 100% stake in VEON Armenia by Novatel will include world-renowned companies, whose consent has already been confirmed.
 
Executive director of Novatel Minas Yerznkyan has made the announcement at the press conference today, adding that the names of the organizations will be released later.

Touching on the founders of the newly established company, Minas Yerznkyan has said that they are entrepreneurs who were born, raised and educated in Armenia, and who have worked in world-renowned companies. According to Yerznkyan, the co-founders want to create advanced and competitive communications in Armenia and offer affordable tariffs.

“We highly appreciate the work of VEON Armenia’s technical and service staff. We want 4G connection to develop quickly not only in big cities, but also in the marzes, in the border area, because 3G will disappear altogether in 3-5 years. In the coming years, we will all use the Internet via 4G for communication - for example, through messengers.

We believe that VEON Armenia is the only company in Armenia that can develop 4G without huge expenses, introduce 5G in big centers and universities and show its advantage over the previous generation networks, as well as prove that it is safe. By the way, 5G network base stations, if compared to the previous generation networks, are cheaper and do not cause any financial issues,” said Yerznkyan.

He has stressed that Novatel is categorically against staff reduction; moreover, in case of successful completion of the deal, Novatel will introduce different methods of encouragement for the employees, which Yerznkyan intends to reveal later.

“The process of acquiring such organizations is very complicated: there are initial agreements, NDAs, audit, the final offer, application to the regulator and only then - the final stage. I have no right to say what stage we are at now, because there is a non-disclosure agreement, but since we are here, we are therefore in a serious process,” explained the head of Novatel.

He has added that Novatel is a new company, which was created specifically to take part in the purchase of VEON Armenia.

Earlier, TEAM (Telecom Armenia) announced it made a bid to purchase VEON Armenia.