Deal on sale of MTS Armenian subsidiary may be thwarted again

YEREVAN, January 15. /ARKA/. Armenia's Public Services Regulatory Commission (PSRC) is expected to reject the application of telecom operator MTS Armenia (trading as Viva-MTS, the Armenian subsidiary of Russia's MTS ), to sell its shares.

The PSRC is scheduled to consider the application on January 17. PSRC will cite objections from Armenia's Ministry of High-Tech Industry to the deal.

On November 15, 2023, the PSRC approved the application for the sale of  100% of MTS Armenia owned by Aramayo Investments Limited (registered in Cyprus, part of the MTS group) to the Cypriot firm Fedilco Group Limited.

It was stated that the Armenian Ministry of High Technology Industry and the National Security Service had no objections to the transaction.

A similar application by Fedilco in April 2023  was rejected by the Commission, which cited objections from the National Security Service.

About MTS Armenia

Viva-MTS, a subsidiary of Russia's MTS PJSC, is a leading telecom operator in Armenia owned fully by Aramayo Investments Limited (registered in Cyprus, a member of MTS group).  

Mobile TeleSystems OJSC (MTS) is the largest telecommunications operator in Russia and CIS countries. Together with its subsidiaries, it serves about 88 million subscribers in Russia, Armenia and Belarus. --0-

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19:39 01/15/2024