Ucom to pledge 100% of Orange Armenia

YEREVAN, October 7. / ARKA /. Armenia's Public Services Regulatory Commission (PSRC) will consider at an October 9 meeting a draft decision allowing Ucom telecom provider, the owner of Orange Armenia jsc, to pledge the latter's  100% stake with Armenian banks. 

According to PSRC, Ucom plans to pledge a 20% stake with Araratbank, a 51% stake with Ardshinbank, and 29% with Ameriabank. No reason is mentioned behind the move.

According to audited financial statements, in 2014 Orange Armenia sustained losses totaling 4 billion drams and it lost 3.85 billion drams in 2013. 

Orange Armenia launched its mobile voice and internet services on November 5, 2009.  Now the company provides a full range of voice and data services in 600 cities and villages of Armenia, to more than 95% of the population.  Its  takeover  by local telecom provide Ucom was allowed by the regulator on August 20.

Ucom (Universal Communications) established in 2007 provides telecommunication services. The company, under support from Ericsson, has created a broadband access network embracing Yerevan. It provides Internet, IP television and fixed telephony services.  ($1 – 473.81 drams)  --0--

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13:55 10/07/2015