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 Company "ArmenTel" to renounce monopoly in the telecommunication sphere till the end of 2007, said Company's General Director Oleg Bliznyuk. Despite the fact that the expiration period is 2009, the process will have been over by the end of this year.

"Renouncing monopoly, "ArmenTel" is ready for fair competition on the market of telecommunication services," he said.
Bliznyuk pointed out that the company's obligations will be done despite the coming changes.
He refused to comment on the company's investment programs, but he assured that the volume of 2007-2008 investments of the new owner will significantly exceed those of the Greek owners.

"ArmenTel" Telecommunications Company is the monopolist landline telephone network and one of the two mobile operators in Armenia. The company has 450ths mobile subscribers and 600ths landline telephone subscribers.
On November 17, the deal on sale (totaling EUR 341.9mln) of ArmenTel's 90% shares by the Greek Hellenic Telecommunications Organization SA (OTE) to the Russian company "VympelCom" (BeeLine brand) was made. "VympelCom" also agreed to pay ArmenTel's liabilities totaling EUR 40 mln.

YEREVAN, April 18. /ARKA/.