VEON confirms talks with Ucom concerning possible Beeline takeover

16 Jan 2020

In the wake of recent rumours that Armenian fixed and mobile operator Ucom is considering a takeover of larger rival VEON Armenia (trading as Beeline), it has now been confirmed that discussions concerning a potential transaction are taking place between Beeline’s Amsterdam-based parent and the altnet. A statement from VEON Ltd dated 15 January read: ‘VEON … has noted recent media comments concerning a potential sale of VEON’s business in Armenia and confirms that it has entered into discussions with Ucom LLC regarding such a potential transaction. These discussions may or may not result in a transaction. VEON will communicate material updates, if any, in accordance with regulatory requirements.’

Earlier this month, Liana Azizyan – an official at the Public Services Regulatory Commission (PSRC) – was quoted as saying that Ucom had made a formal approach on 30 December 2019 seeking permission to discuss the acquisition of Beeline, and that ‘according to the current procedure, [this] should be discussed with all competent authorities’.

Armenia, Team Telecom Armenia (formerly Beeline), Ucom, VEON