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VISEGRAD BLOG: Central Europe's populists need a new strategy for Biden
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OUTLOOK 2021 Lithuania
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OUTLOOK 2021 Poland
OUTLOOK 2021 Slovakia
BRICKS & MORTAR: Rosier future beckons for CEE retailers after year of change and disruption
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BALKAN BLOG: Only better waste management can clean rivers of trash
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BALKAN BLOG: Superstition and resentment surround vaccination plans
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ING: Growth in the Balkans: from zero to hero again?
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OUTLOOK 2021 Moldova
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North Macedonia plans to cut personal income tax in IT sector to zero in 2023
Romania government to pursue “ambitious” timetable for justice reforms
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OUTLOOK 2021 Romania
Slovenian crypto payment system enters Thai market
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Slovenia lost €10bn by neglecting wood industry for decades
OUTLOOK 2021 Slovenia
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Turkey’s benchmark rate held as concerns over faltering recovery come to fore
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CAUCASUS BLOG : What can Biden offer the Caucasus and Stans, all but forgotten about by Trump?
Armenia ‘to extend life of its 1970s Metsamor nuclear power plant after 2026’
OUTLOOK 2021 Armenia
OUTLOOK 2021 Azerbaijan
OUTLOOK 2021 Georgia
Iran’s President Khamenei menaces private citizen Trump
Iran’s technology minister indicted for failing to properly implement internet censorship
No US move to rejoin Iran nuclear deal imminent, say Biden national security nominees
TEHRAN BLOG: Will Biden bet on a quick return to the Iran nuclear deal?
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COMMENT: Mongolia is an island of democracy
OUTLOOK 2021 Mongolia
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Tajikistan: Writing for the president is on the wall (and then scrubbed off)
OUTLOOK 2021 Turkmenistan
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COMMENT: Uzbekistan is being transformed, but where are the democratic reforms?
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Armenian telco Ucom is seeking to block an attempt by rival Team – set up earlier this year by two former Ucom executives – to buy Veon Armenia, which operates under the Beeline brand.
Former Ucom director-general Hayk Yesayan and former deputy director and strategic director Alexander Yesayan quit in April. At the time, RFE/RL reported that the brothers were unhappy the deal would dilute their 6% shareholding in Ucom.
They then went on to found Team and entered into talks with Veon that resulted in a deal under which Team would acquire 100% of Veon Armenia.
Team asked the State Commission of the Protection of Economic Competition (SCPEC) to approve the deal in June. Ucom said in a statement published on its website that on June 26 the SCPEC had approached Ucom to clarify its position on the deal. Ucom then called on the competition authority to reject the deal.
Ucom argued that it was unfair competition, saying that Team’s management had used undisclosed confidential information. It accuses the Yesayans of breaching their fiduciary duty towards Ucom by using confidential information when negotiating the deal with VEON Armenia.
“[W]e find that as a result of the revelations and use of confidential information belonging to Ucom by the Yesayans, Team LLC was able to negotiate and sign a memorandum within just a month, and is going to acquire the shares of Veon Armenia CJSC, while similar deals’ negotiations last for months, if not longer. These actions … are both unfair competition and prohibited,” the statement said.
Ucom said it was intending to “defend its violated rights” both in Armenia and abroad, and is currently discussing possible international legal proceedings with its legal advisers.
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