Yerevan, November 14 /Mediamax/. The State Commission on Regulation of Public Services of Armenia approved today the deal on selling the 90% share of the “ArmenTel” Telecommunication Company to the Russian “VimpelCom” Operator.

Mediamax reports that the Chairman of the Commission Robert Nazarian stated today that the members of the commission made a unanimous decision.

The candidate for the position of the CEO of “ArmenTel”, representative of “VimpelCom” Oleg Bliznyuk stated today that right after the conclusion of the deal “VimpelCom” will abandon the monopoly rights, belonging to “ArmenTel” for providing internet services and international communication services.

Oleg Bliznyuk noted that in the course of one year “VimpelCom” intends to abandon also the monopoly right for the fixed communication and other services, provided by the “ArmenTel” Company.

“We think that the monopoly hinders development and competition on the market. “VimpelCom” intends to work on the open market”, Oleg Bliznyuk stressed.

He informed that during 2007 “VimpelCom” intends to invest $100mln for the technical modernization of “ArmenTel”, “as the equipment of “ArmenTel” has become somewhat out of date”.