Veon Holding Came out of Negotiations on Selling Its Business in Armenia
The fact that such negotiations began was announced on January 15. Then, Veon emphasized that the discussion was in its very initial stage, and therefore it was unclear whether they would end successfully for the parties. Neither did Veon explain about the reasons for selling the business, or why negotiations with Ucom had reached an impasse.
Ucom is the third mobile operator in Armenia in terms of subscribers after the subsidiaries of the Russian MTS and the Dutch Veon. In addition to Armenia, Veon owns assets in Russia, Ukraine, Kazakhstan, Kyrgyzstan, Uzbekistan, Georgia, Algeria, Pakistan and Bangladesh. The largest shareholder of Veon is Mikhail Friedman's LetterOne (47.9%), 8.3% of the holding's shares are managed by Dutch shtting (the form of ownership provided for by Dutch law). In free float is a 43.8% stake in the company.