OTE, the Greek state-controlled telecom group, is planning to sell its 90 per cent shareholding in Armenia’s fixed line operator, Armentel, to Vimpelcom of Russia for 342 million euro. The Greek group has been restructuring its international operations before its planned sale of a stake in itself in 2007. Vimpelcom, Russia’s second largest mobile operator, was one of four shortlisted bidders for Armentel. It already controls mobile telephone companies in Georgia, Kazakhstan and Uzbekistan.
