Ucom Sues Team Over Unfair Competition

The telecommunications player Ucom has filed a lawsuit against the newly established Team LLC for unfair competition. This has been reported by Pashtinfo.

The plaintiff has requested the court to prohibit Team LLC from engaging in unfair competition, specifically to cease negotiations regarding the acquisition of shares of Veon Armenia CJSC, and/or to halt any related efforts involving the negotiations of purchasing the shares of Veon Armenia CJSC (including signing, registering arising rights, and undertaking any other actions aimed at finalizing the transaction).

The case has been assigned to Judge Hovik Shahnazaryan in Yerevan.

It should be recalled that on July 10, the Public Services Regulatory Commission (PSRC) approved Team's acquisition of 100% of the shares of Veon Armenia CJSC, which represents the Beeline brand. On the same day, the State Commission for the Protection of Economic Competition granted permission for the transaction under the condition that there would be no mass layoffs of Beeline employees.

Later, one of the decisions by the PSRC revealed that after acquiring Veon Armenia, Team decided to pledge its movable and immovable assets and shares to Ardshinbank. The specific price of the transaction has not been disclosed.