Beeline CEO Andrey Pyatakhin Continues in Position: Statement

In response to inquiries from media representatives, we announce that Andrey Pyatakhin continues to serve as the CEO of Beeline in Armenia and has no plans to leave the position. This was stated in an announcement released by Beeline.

“Beeline is continuing to operate as usual in Armenia, fulfilling its obligations to customers and stakeholders,” the statement said.

It is worth noting that just the day before, the media reported information that the management staff of Ucom, including the chief technical staff and directors, had submitted their resignation requests. Among them are Alexander and Haik Yesayan, who are founders of Ucom.

The reason cited for their resignation is that the owners of Ucom wish to appoint Andrey Pyatakhin, currently heading Beeline, to the position of CEO at Ucom.

Recall that Ucom, a local company providing fixed and mobile communication services in Armenia, had previously confirmed discussions regarding the acquisition of Beeline's Armenian business from the global communication and internet service leader VEON Ltd.

A submission has been made to the State Commission for the Protection of Economic Competition, but the Beeline-Ucom merger transaction has not yet taken place, as the Competition Commission suspended the deadlines of its ongoing proceedings on March 19 due to the state of emergency. This includes the suspension of the execution period for the administrative proceedings initiated on the basis of the application from December 30, 2019, by Veon Armenia and Ucom.