Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, announced that it received a total of 10 non-binding offers for its 90% stake in ArmenTel, the incumbent telecommunications operator in Armenia. After reviewing the bids, the following parties have been invited to participate in the next phase of the sale process:
a) AO Vimpelcom
b) Mobile Telesystems (MTS) OJSC
c) The consortium, Emirates Telecommunications Corporation (ETISALAT) / Istithmar PJSC / Emergent Telecom Ventures (ETV)
d) The consortium, VTEL Holdings / Knightsbridge Associates