Exclusive Details: The Game of Gagik Khachatryan's Sons with the Russian Side and Conflict of Interest in Ucom

It has been revealed that the management team of Armenia's leading telecom operator and broadband internet provider, Ucom, has completely resigned. Haik and Alexander Isayans, the founders of Ucom, have also resigned due to a conflict between Haik Isayan and the sons of Khachatryan.

According to the company's published data, 31.05% of the shares belong to IU Telecommunicate, owned by Darison Management, which in turn is owned by Gagik Khachatryan's two sons, Gurgen and Artyom. They are the direct owners of 12.71% of the shares. An additional 5.98% belongs to Gagik Khachatryan's cousin, Aram Khachatryan. Russian 'For Bank', part of Samvel Karapetyan's 'Tashir' group, owns 11.21%. Moreover, around 6% of the shares belong to the company's top managers, Haik and Alexander Isayan, who were entrusted with the company's management.

A letter from the founder has surfaced, in which Haik Isayan states that he has had ongoing disputes and issues with Gurgen and Artyom Khachatryan regarding development plans that were rejected. Isayan also offered the Khachatryan brothers to buy his shares, which was again refused. The letter mentions that even when the potential merger with Beeline was discussed, Isayan's candidacy for the director position was not considered. This led to Isayan's decision to leave the company. Interestingly, yesterday was also Haik Isayan's birthday. It has come to light that several hundred employees are also expected to resign along with him. It appears that Ucom will be led by individuals appointed by Beeline, sidelining the Isayan brothers.

It turns out the Khachatryan brothers' cooperation with the Russian side runs deep. ArmLur.am has learned that they have entered into a game with the Russian side for their father, Gagik Khachatryan. There are speculations suggesting that the Russians have assured the Khachatryan brothers that if Andrey Pyatakhin (CEO of Beeline in Armenia) is appointed as director, they will assist in freeing their father, Gagik Khachatryan. This has encouraged the brothers.

It should be noted that the former head of the State Revenue Committee and former Minister of Finance Gagik Khachatryan has been imprisoned for six months now. He was arrested on August 27, 2019, and has since had his detention extended multiple times on charges of abuse of power and embezzlement. Whether the brothers will receive what they are anticipating remains to be seen. Meanwhile, the number of resigning employees has reached 300. Furthermore, to fill the gap left by resigning employees and ensure that the company's subscribers are not affected, it has been decided to involve Beeline employees in this process.