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AEN DENIES REPORTS ABOUT SALE OF SHARES

YEREVAN, MARCH 18, ARMENPRESS: A spokeswoman for Armenian Electric Networks (AEN) denied today press reports claiming that Alexei Schneider, the owner of Midland Group, an offshore British-registered company, that owns the AEN, wants to sell his shares in it at $100 million.

Schneider acquired his shares at $15 million committing also to pay $25 million of AEN’s accrued debts.

The spokeswoman, Marina Grigorian, said Midland Group’s owner is not going to sell his shares in the company and “therefore, there is no point in talking about the networks’

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