Ucom moves to block Veon Armenia sale - Mobile World Live

Ucom moves to block Veon Armenia sale

08 JUL 2020

Armenian operator Ucom threatened legal action against a takeover bid for Veon’s Beeline business, claiming the move breached confidentiality agreements.

In a statement, Ucom said it was responding to an approach by the country’s State Commission for the Protection of Economic Competition (SCPEC RA) regarding an acquisition application received from Team: Telecom Armenia and Veon Armenia on 8 June.

Veon last month stated it had entered discussions with Team “regarding a potential transaction”, without providing further details.

Ucom argued the proposed tie-up was “subject to rejection on several grounds”, accusing Team of “unfair and unscrupulous” actions by using Ucom’s “confidential information” during its negotiations with Veon.

The company also argued the timeline for negotiations on similar deals generally lasted for months, but noted Team had reached an agreement “within just a month”.

Ucom said it instructed its lawyers to “undertake all possible legal measures and to advise in civil and criminal matters against party causing damage”.

ARKA News Agency reported Team was registered on 20 April and has received a telecom licence from the Armenian Public Services Regulatory Commission.

Veon was in talks regarding a potential sale of its Armenian unit to Ucom in January, but pulled back from the discussions four months later.

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Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

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