Rostelecom: Rostelecom Decides Against Selling The Armenian Business Unit

Mar 20, 2023 | Posted by Abdul-Rahman Oladimeji

Rostelecom intends to increase investment in the company's Rostelecom Armenia business subsidiary (formerly GNC-ALFA). Rostelecom instead intends to increase its investment in the business. That signals a U-turn on the company's part, which had appeared poised to sell its subsidiary to Electric Networks of Armenia (ENA) in a deal valued at an estimated $25 million as recently as January. Mikhail Oseevsky, head of Rostelecom, stated that the company has opted to aggressively expand it rather than worry about selling it. 

In 2012, Rostelecom purchased GNC-Alpha shares, acquiring a 75% investment in the firm created in 2007 and offering fixed telephony, IP TV, and other services throughout the nation. Rostelecom said in October of last year that it was thinking about building a new data center in Armenia. Still, no other information on the site, plans, or schedule was provided. The firm runs data centers in Russia in Moscow, Novosibirsk, St. Petersburg, Udomlya, Yekaterinburg, and Chita. At Murmansk, more facilities are planned.

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