YEREVAN, NOVEMBER 16, NOYAN TAPAN. VympelCom company (Russia) - the new owner of ArmenTel has already invested about 63 million dollars, and the amount of investments will reach 90 million dollars by late 2007. The company's director general Oleg Bliznyuk said during a talk with reporters on November 16 that the investments were mainly spent on updating of various networks. According to him, the digitalization of telephone stations in Yerevan and villages will be completed soon. O. Bliznyuk denied the rumors that employees of the company are beign dismissed from their jobs in connection with the sale of fixed-line phone connection. He explained that it is done in accordance with the law that envisages age limits for some categories of employees. At the same time, O. Bliznyuk said that there are some professionals whose dismissal would create problems for the company as it is difficult to find substitutes for them.

---