Orange’s (EPA:ORA) sale of its Armenian mobile business to local fixed-line telco UCom has completed, a spokesperson confirmed.
The deal’s quick turnaround was made possible by the Public Services Regulatory Commission (PSRC) approval on 20 August, less than a month after the sale was agreed.
Announcing the transaction on 22 July, Orange described the mobile-only business as non-core. The subsidiary reported losses of US$8.5m in 2014 and US$8.1m in 2013. Neither party has disclosed a sale price.
Orange Armenia has a reported 640,000 customers, while UCom has some 75,000.
Orange CEO Stephane Richard has in the meantime indicated that the company will focus its organic and inorganic growth efforts on markets in Europe and Africa where it has the opportunity to hold number one and two positions. The company last month de-listed Spanish fixed-line acquisition Jazztel and remains in exclusive talks to buy four West African markets from Bharti Airtel.