The Russian “Comstar-OTS” company has purchased the Armenian “Colnet / Cornet” company. The public affairs department of the “Comstar-OTS” has confirmed this information. The mentioned Russian company has purchased 75+1% of the “Colnet” fixed capital. As for the “Conet”, it fully belongs to “Colnet” and is experienced in providing Internet services with improved IP technologies, as well as providing information packages about global information networks. “Colnet” company operates in the inter-operator market of Armenia. As for the “Cornet”, it is the second largest communication group in Armenia. “Colnet” company is one of the four Armenian companies with traffic transit licenses, which is a good factor for competition taking into consideration the heavy traffic in Armenia. “Cornet” company has a big network of clients and provides services to almost 76% of the Armenian banks. The “Cornet” had double the income in 2005 than the previous year (4,3 million dollars). These two companies have the same business model as the Russian “Comstar” company and are a key component in the Armenian communication development, data exchange and internet providing systems. “The “Cornet” is the only company in Armenia that is entitled to provide Wi-Max services in Armenia, which will give a good opportunity to the “Comstar” to use that experience in Russia in developing Wi-Max network in Russia too” said the general director of “Comstar” company, Erik Franke.
The fact that the “Comstar” has purchased the Armenian “Cornet” and “Colnet” companies is the third achievement of the mentioned Russian company in CIS. This company made a similar contract with a Ukrainian company in June. “Comstar-OTS” company is one of the biggest Russian operators, which was established in 2004 by joining “Comstar”, “MTU-Inform” and “Tlmos” companies. The biggest share holding company of the “Comstar OTS” is “Sistema” company. The income of “Comstar” company in 2005 covered $907,6 million.
The Russian “Sistema” is one of the potential buyers of “Armentel” company. While “Armentel” has not made its final decision, the “Sistema” has taken a wise step by entering the Armenian field of communication with the help of “Comstar OTS” company. If “Sistema” manages to buy the 90% share of OTE in “Armentel” company as well, the situation in this field will become more monopolistic than it is, since the owner of “Armentel” will also be the owner of one of the biggest Internet providers.