Ucom files lawsuit to prevent what it terms ‘unfair competition’ from Team LLC-VEON Armenia deal

12 Aug 2020

Armenian altnet Ucom has reportedly filed a lawsuit with the Yerevan Court of General Jurisdiction against Team LLC, the new venture set up by brothers Hayk and Aleksandr Yesayan in April 2020 after they jumped ship from Ucom, in a bid to stop what it sees as ‘unfair competition’ from the newcomer. Online portal ITEL cites an entry in the Datalex judicial information system as saying that the plaintiff is demanding that Team LLC is barred from negotiations on the ‘acquisition of VEON Armenia shares and the deal on acquisition of the shares’. Indeed, the report claims that the jilted company has invited VEON’s parent to be involved in the lawsuit as a third party. It is understood the court accepted the case at the end of July when it was signed off on by Judge Hovik Shahnazaryan.

As previously reported by CommsUpdate, last month Team LLC secured regulatory approval to acquire VEON Armenia (trading as Beeline) – the country’s largest operator by revenue. Armenia’s State Commission for the Protection of Economic Competition (SCPEC) made its decision to allow the merger on 9 July, including the condition that the newcomer must not allow ‘mass layoffs’ (more than 10% of the total number of employees) for at least six months after the merger deal goes through. Subsequently, on 10 July the industry regulator, the Public Services Regulatory Commission (PSRC), gave its permission for the sale of 100% of VEON’s shares to Team LLC to go ahead.

Armenia, Public Services Regulatory Commission (PSRC), Team LLC (Team.Telecom Armenia), Team Telecom Armenia (formerly Beeline), Ucom