France Telecom-Orange has invested EUR250 million (USD325 million) in its Orange Armenia subsidiary since its commercial launch on 5 November 2009. ARKA News quotes the French group’s vice president for European markets, *Benua Shin, as saying that EUR186 million has been spent on capital investment and the remainder in ‘social and charity projects of Orange Foundation’. Orange Armenia aims to introduce a raft of new services this year, in an effort to stimulate the development of the mobile broadband segment, the official said at a news conference, although he stopped short of providing specific information, citing tight competition at the local market as the reason.
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OVETEL Orange’s Armenian investment tops EUR250m; plans new services for 2012
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