Ucom chief denies media speculations about company’s sale

YEREVAN, December 22. /ARKA/. Ucom telecommunications company’s CEO, Hayk Yesayan, denied today media speculations that the company will be put up for sale, saying a recent acquisition of two providers testifies to the contrary. A few months ago Ucom acquired two competing companies - Netsys and iCon Communications, which sparked rumors that Ucom will be sold and that KPMG-Armenia auditing company was checking its books.

In an interview with "Orakarg" daily Yesayan said KPMG was actually engaged in the study of the company’s performance in 2008-2010. He said it was normal because the company’s turnover has amounted to 1 billion AMD, and therefore, according to a government decision, it must pass a mandatory audit.

According to him, the company intends to expand the range of activities to include the regions of Armenia and that was why it acquired two Internet providers.

Yesayan said since its inception the company has increased the speed of the Internet 64 times.

"In 2009 when we first started offering our services, the lowest data transfer rate was 128 kbit/s, now it has increased to 8 Mbit/s," he explained.

Ucom (Universal Communications) was founded in 2007 and is engaged in providing telecommunications services. With the assistance of Ericsson, the company created a broadband network that covers the capital Yerevan. It also provides Internet services, IP-TV and fixed telephony. -0-

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18:12 12/22/2011