Yerevan. (Interfax) – Greece’s OTE has invested $216 million in developing the telecommunications network in Armenia and does not plan to leave the Armenian market, Georgios Vasilakis, acting executive director of Armenian national operator ZAO Armentel, in which OTE has a 90% stake, said on Monday.
He said that the company will continue to work in Armenia after the company’s monopoly on mobile communications and external Internet services is restricted on June 30, following a government ruling.
“How can we leave the Armenian market if $150 million has been paid for Armentel shares and another $216 million has been subsequently invested,” he said.
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