The Greek telco OTE has confirmed that it has settled all outstanding disputes with the Armenian government in respect of ArmenTel, in which it owns a 90% stake. The pair had been involved in a long-running argument in which the Armenian government claimed that OTE had been remiss in its investment in ArmenTel. Matters came to a head in September 2003 when the Armenian government announced plans to revoke ArmenTel’s monopoly of the wireless arena after just six of a promised 15-year term, a move which prompted OTE to launch international arbitration proceedings. After over a year of litigation, the pair have now agreed to put aside their differences; ArmenTel will be issued with a new GSM licence which carries fewer rollout requirements, while a second wireless licence will me made available to a competitor.
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