Team LLC to Acquire Beeline

The State Commission for the Protection of Economic Competition has decided to permit the concentration of VEON Armenia closed joint-stock company and Team LLC. This was reported by Ani Smbatyan, the spokesperson for the commission, on her Facebook page. Below is the post:

“The Commission has permitted the acquisition of 100% of shares of VEON Armenia closed joint-stock company by Team LLC. This decision was made during the session of the Republic of Armenia’s State Commission for the Protection of Economic Competition that took place yesterday, July 9. At the same time, it has been stipulated that Team LLC is obliged not to carry out mass layoffs (more than 10% of the total number of employees) for at least six months following the implementation of the concentration.”

It should be noted that Team LLC was founded by the Yesayan brothers, who were removed after issues with shareholders.