“There are several reasons why OTE sold its share in Armentel”, says the former authorized representative of the government to Armentel, Serj Sargsyan, “Firstly, they sold the company after they had received super-profits, due to which they didn’t make expenses to improve the institutional capacity of that company. According to my information, the OTE also had some financial problems and sold its share so that it has the money to solve those problems. Besides that, the OTE had lost its good reputation in Armenia and they decided to sell their share in order that bad image does not appear in abroad as well”.
