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.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE twice-weekly email newsletters for the latest telecom info in developing and emerging markets globally.
I agree with the Terms and conditions and the Privacy policy
By accepting occasional e-mails from our partners, inviting you to download articles, white papers and attend events, you are helping fund free access to this valuable news service for emerging markets.