Orange, Ucom negotiate sale of shares

22/07/2015 15:24

Orange, Ucom negotiate sale of shares

Francis Gelibter, Orange Armenia CEO, has commented on media reports on Ucom negotiating a purchase of the Orange Armenia mobile network.

Some of the reports are true, while others are not, Mr Gelibter told reporters on Wednesday.

Orange has announced exclusive negotiations with Ucom over the sale of Orange stock, he said. Orange will continue rendering services to its 650,000 clients and retain its infrastructure.

The negotiations do not deal with Orange leaving the market. It is a change of the company stockholder that is dealt with.

Mr Francis Gelibter noted the companies are holding exclusive discussions, which will be followed by signing and ratification of a contract. Pursuant to an arrangement, the Orange brand will be preserved for 12 months. 

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