On April 25, 2024, the Administrative Chamber of the Court of Cassation of the Republic of Armenia upheld the decision of the Administrative Court of Appeal of the Republic of Armenia on the claim of “UCOM” Closed Joint-Stock Company against the Competition Protection Commission of the Republic of Armenia under the administrative case No. ՎԴ/0693/05/21.

In particular, the Administrative Court of Appeal ruled to satisfy the claim to oblige the Competition Protection Commission of the Republic of Armenia to qualify the actions of "Team" CJSC aimed at acquiring shares of "Veon Armenia" Company as unfair competition through the use of undisclosed information and a manifestation of a breach of fiduciary obligations.

The case was heard in closed session, taking into account the need to protect information constituting a commercial secret, therefore, the ability of UCOM CJSC to provide additional clarifications is restricted.