Armenian firm takes majority stake in rural broadband firm Imagine

Imagine has been struggling to compete in a challenging market in recent years

The roll-out of the National Broadband Plan has hit the company particularly hard in the last two years. 

An Armenian firm has taken a majority stake in the rural broadband provider Imagine which has been struggling over the last few years in a challenging market in part due to the roll-out of the National Broadband Plan, the company has announced.

The investment comes from the Team Group of Companies which was founded by Armenian entrepreneurs Hayk and Alexander Yesayan. The group operates a telecom company in Armenia called Telecom Armenia which has 1.1 million customers.