Rostelecom takes Armenian unit GNC-Alfa off sale

Rostelecom takes Armenian unit GNC-Alfa off sale

Rostelecom has reportedly reconsidered selling its Armenian subsidiary GNC-Alfa, and plans to invest and broaden the unit. 

Arka Telecom reported via Russian news agency Interfax, Rostelecom president Mikhail Oseyevsky told media the operator had reversed course, stating “we have decided to actively develop Rostelecom Armenia”, and “we keep on working. The company (GNC-Alfa) finished last year very well, we are satisfied”.

Oseyevsky added the company launched its video service Wink and is planning to construct a data centre in Armenia to showcase renewed commitment to the market, which it announced to exit in January 2022.

Rostelecom priced GNC-Alfa at US$25 million and gained permission from the Public Services Regulatory Commission (PSRC) of Armenia to sell 100% of shares to energy firm Molitro Holdings, reported Arka Telecom.

The Russian operator group had put its Armenian subsidiary up for sale in 2021 and aimed to wrap up the transaction in January 2022 but the invasion of Ukraine postponed it.

Rostelecom first acquired GNC-Alpha shares in 2012, taking a 75% stake.

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