Potential Job Losses for 1700 Out of 2200 'Beeline' Employees by 2020 Amid Market Changes

The telecommunications service provider 'Ucom' is set to acquire 'Veon Armenia', whose brand is 'Beeline', for business purposes. 'Ucom' has already filed a notice of intent regarding the purchase with the Public Services Regulatory Commission and has also approached the State Commission for the Protection of Economic Competition.

According to sources from Auroranews, 'Ucom' will purchase 'Beeline' for approximately $60 million, which could result in the potential dismissal of 1700 out of 2200 employees working at 'Beeline' by 2020. Significantly, if 'Veon Armenia' is acquired, 'Ucom' would become the leader in the fixed-line market, raising concerns about potential price increases for minute rates and other services as the industry moves toward monopolization.

It remains to be seen what decision the relevant authorities will make regarding this issue and whether they can act as buyers in the interest of the state.

It is worth noting that 'Ucom' must receive approval for the acquisition from several government agencies, ministries, the National Security Service, and the Public Services Regulatory Commission.