Team Company Has Pledged to Bank Its Acquired 100% Shares of Veon Armenia (Beeline)

The newly established Team company in the Armenian telecommunications sector has pledged its acquired 100% shares of Veon Armenia (Beeline) to a bank. The Republic of Armenia Public Services Regulatory Commission approved the company's proposed transaction during a meeting held today.

During a meeting on July 10, the Commission had previously confirmed the proposal for the transfer of ownership rights to the entire 100% of Veon Armenia's shares to Team. In today’s session, it became clear that the owners of Team, the Yesayan brothers, have yet to make payments for the transaction.

To facilitate this payment, they decided to pledge the shares of Veon Armenia and use the obtained funds to settle the payment for the same shares. On June 8, the central office of Veon Armenia, the owner of the Beeline brand, announced that former Ucom managers Haik and Alexander Yesayan were in negotiations to purchase Veon Armenia (represented in Armenia under the Beeline brand).

Currently, around 1,800 people are employed at Veon Armenia. You can find the Commission's decision on the following website: psrc.am