"Orange Armenia" CJSC alienated to “Ucom”

YEREVAN, AUGUST 20, 2015.Public Services Regulatory Commissionof the Republic ofArmenia approved on August 20 the decision to alienate shares of "Orange Armenia" CJSC. 100 percentof theshares of "Orange Armenia" was alienated to “Ucom” LLC. Armenpress reports that project reporter Gevorg Gevorgyan, Head of Telecommunication Department of PSRC noted that the alienation was preconditioned by the strategy of “Orange” group according to which the assets of the company are being reviewed from time to time and possibilities of growth are being evaluated. “Currently the company does not possess the required resources to work on making investments in accordance with the appropriatestrategicdirection.” He said.

The PSRC decision was coordinated with the Republic of ArmeniaMinistry of Transportand Communication and was adopted with the consent of all PSRC members.