Ucom files lawsuit to block Team’s Beeline buy

Ucom files lawsuit to block Team’s Beeline buy

Armenia’s Ucom has filed a lawsuit against Team LLC’s acquisition of Beeline, the local unit of Veon.

Local news source ITEL reports that according to the Datalex judicial information system, Ucom is calling for Team LLC to be prevented from entering into negotiations for the “acquisition of VEON Armenia shares and the deal on acquisition of the shares.”

The report goes on to claim that Ucom has offered Veon the option of becoming a third party in the lawsuit, which according to CommsUpdate was accepted by the Yerevan Court of General Jurisdiction at the end of July 2020.

Team LLC is a new venture founded in April 2020 by Ucom founders and former executives Hayk and Aleksandr Yesayan. In July, its proposed acquisition of Veon – which Ucom argues would lead to “unfair competition” – was cleared to proceed by the State Commission for the Protection of Economic Competition (SCPEC) and the Public Services Regulatory Commission (PSRC).