Tuesday, January 23 2018 12:36
Emmanuil Mkrtchyan

The buyer of 100% of  the  cellular operating company "VivaCell" - MTS Armenia  is a Cypriot offshore company

The buyer of 100% of  the  cellular operating company "VivaCell" - MTS Armenia  is a Cypriot offshore company

ArmInfo. The buyer of 100% of the shares of the mobile operator of Armenia, the company VivaCell-MTS, was the Cyprus offshore company of Aramayo Investment Ltd. (ARAMAYO INVESTMENT S A).

Yesterday ArmInfo informed that according to the documents of the Public Services Regulating Commission , Aramayo Investment LTD will purchase  ultimately all 100% of the company's shares. It should be noted that (trade mark ) is the Armenian daughter of the Russian telecommunications giant  of MTS. The deal involved Russian citizens Pavel Masharov and Artem Vasiliev, who will acquire 0.005% of the shares, and then sell them to Aramayo Investment, Their role in the transaction is not highlighted.

Thanks to the database of the Cyprus register it became known that ARAMAYO INVESTMENTS LIMITED was registered as an offshore company numbered ?? 349745 December 3, 2015. The company is registered at 1065, Nicosia, Cyprus, in the building  of CAPITAL CENTER on the 9th floor. It is noteworthy that the director of this company is the one mentioned in the documents of the State Commission Pavel Masharov. More detailed information about the entrepreneur Masharov in the open sources could not be found.

The company is also mentioned in the Bloomberg database. According to it, through its subsidiaries, Aramayo SA deals with the processing of metals and alloys. The company also manages investment property and deals with financial investments. The company's branches are located in Switzerland, Great Britain, Germany, USA, France, Italy and Spain. The head office of the company is located in Geneva, Switzerland.

Meanwhile, the company with a similar  name ARAMAYO INVESTMENTS A is also registered in Panama. There is also another offshore company, possibly affiliated with it, COMERCIAL ARAMAYO, S.A.It is hard to say how close are  these two offshore companies connected - in Cyprus and Panama ,  but it is clear that in connection with the mentioning Masharov's name, the buyer of "MTS Armenia" was the Cyprus offshore.

In the opinion of independent observers, since the profile of the Cyprus offshore does not presuppose activity on the market of communication services, it can be assumed that, apparently, the transaction for the purchase of a mobile operator of Armenia from a Russian MTS company has a purely financial intermediate character.

Recall that the sale of "MTS Armenia" for the knowledgeable market participants did not come as a surprise, as during the past year the company seriously cut all its expenses, including advertising and social projects. Moreover, according to the analytical materials of the rating service of the "ArmInfo" Information Company, by the end of 2016 the company's revenue decreased by 20.7%, gross profit fell by 27.4%, net profit by 61%, the company's assets decreased by 13.4%. EBITA in recent years has been steadily declining - from 27.4% in 2014 to 11.08% by early 2017. Financial data for 2017 has not yet been made public.

Analysts are inclined to believe that after signing a peace agreement between Russian companies Sistema, which owns MTS, Rosneft, Bashneft and the Republic of Bashkortostan, the first one, who needed additional resources, decided to get rid of the ineffective Armenian asset. We note that on the eve of the international rating agency Fitch confirmed the long-term issuer default ratings (IDR) in foreign and national currency of AFK Sistema and MTS at "BB-" with a "negative" forecast.

Related articles
One of the largest telecommunication operators in Armenia, the company VivaCell-MTS will be sold to Aramayo Investment LTD.
 Monday, January 22 2018

ArmInfo. One of the major telecommunication operators in Armenia, "MTS Armenia" will sold to the company to Aramayo Investment LTD. As reported in the documents of the State Commission for Regulation of Public Services, Aramayo Investment LTD will ultimately acquire the entire 100% stake in the company. It should be noted that (trade mark ) is the Armenian daughter of the Russian telecommunications giant MTS.

 Monday, January 22 2018

ArmInfo.

POST A COMMENT
Input digits     


News
Armenian PM, Head of Tashir Group of Companies discuss implementation  of investment projects Armenian PM, Head of Tashir Group of Companies discuss implementation  of investment projects 
By announcing the upcoming increase in the minimum wage and pensions,  the authorities may increase inflationary pressure - Former head of  Central BankBy announcing the upcoming increase in the minimum wage and pensions,  the authorities may increase inflationary pressure - Former head of  Central Bank
Team Telecom Armenia will partner with Tech Week Gyumri 2022Team Telecom Armenia will partner with Tech Week Gyumri 2022
According to OneTwoTrip, Armenia is in TOP-3 most popular  destinations for Russian touristsAccording to OneTwoTrip, Armenia is in TOP-3 most popular  destinations for Russian tourists
Yandex opens new office in Armenia to coordinate company`s work in  CIS countriesYandex opens new office in Armenia to coordinate company`s work in  CIS countries
Converse bank will cover the insurance costs within the framework of program lendingConverse bank will cover the insurance costs within the framework of program lending
Armenia, Russia to deepen strategic partnership in both nuclear and  non-nuclear energyArmenia, Russia to deepen strategic partnership in both nuclear and  non-nuclear energy
Government proposes way to solve problem with export of fruits and  vegetablesGovernment proposes way to solve problem with export of fruits and  vegetables
Minister: Dram revaluation may lead to repeated Minister: Dram revaluation may lead to repeated "destruction" of the  industry
Financing of subvention programs in Armenia reached 7.3 billion drams  in 2022Financing of subvention programs in Armenia reached 7.3 billion drams  in 2022
WB to provide technical assistance to educational sector of Armenia  under PPPWB to provide technical assistance to educational sector of Armenia  under PPP
Armenian government recognizes number of territories in Syunik as  Armenian government recognizes number of territories in Syunik as  "overriding public interest" for construction of North-South Corridor
Lawyer in Lawyer in "March 1" Case nominated as Judge of Armenia`s  Constitutional Court
Order Mastercard Standard and Mastercard Gold and use the preferential credit lineOrder Mastercard Standard and Mastercard Gold and use the preferential credit line
Pashinyan: From January 1, 2023, pensions, the minimum wage and  benefits will be increased in ArmeniaPashinyan: From January 1, 2023, pensions, the minimum wage and  benefits will be increased in Armenia
Tax collections will exceed the level planned for the first half of  the year by about 60 billion drams:  PashinyanTax collections will exceed the level planned for the first half of  the year by about 60 billion drams:  Pashinyan
In 2022, Armenia will be able to reduce the level of government debt  much faster than planned: Ministry of FinanceIn 2022, Armenia will be able to reduce the level of government debt  much faster than planned: Ministry of Finance
Armenia could be major supplier of sugar beet seeds to EAEU  member-states Armenia could be major supplier of sugar beet seeds to EAEU  member-states 
Armenia 84th in Speedtest Global Index rankings Armenia 84th in Speedtest Global Index rankings 
CBA: Inflow of foreign labor migrants and capital to Armenia has  increased projected GDP growth to 4.9%CBA: Inflow of foreign labor migrants and capital to Armenia has  increased projected GDP growth to 4.9%
Central Bank of Armenia forecasts increase in exports by 5.1% and  imports by 8.3% for 2022Central Bank of Armenia forecasts increase in exports by 5.1% and  imports by 8.3% for 2022
Poland considers Armenia as profitable platform for entering EAEU  marketPoland considers Armenia as profitable platform for entering EAEU  market
In its improved forecast for 2022, CBA reduces decline in net  remittance inflows to 12% from previous 20%In its improved forecast for 2022, CBA reduces decline in net  remittance inflows to 12% from previous 20%
Business community of Armenia called on government to find assistance  mechanisms in connection with dram revaluation Business community of Armenia called on government to find assistance  mechanisms in connection with dram revaluation 
CBA forecasts 14.8% unemployment in ArmeniaCBA forecasts 14.8% unemployment in Armenia
Majority interest in Armenia Securities Exchange was transferred to  Warsaw Stock ExchangeMajority interest in Armenia Securities Exchange was transferred to  Warsaw Stock Exchange
ACBA Bank and Ameriabank helped beneficiaries to equip cash registers  with system for accepting non-cash payments with investmentsACBA Bank and Ameriabank helped beneficiaries to equip cash registers  with system for accepting non-cash payments with investments
Armenia, Russia to expand cooperation in agricultural and industrial  fieldsArmenia, Russia to expand cooperation in agricultural and industrial  fields
Rossiya Airlines to start operating flights from Samara to Yerevan  from July 2Rossiya Airlines to start operating flights from Samara to Yerevan  from July 2
A joint Armenian-Russian technopark may be established in Armenia-  GordeyevA joint Armenian-Russian technopark may be established in Armenia-  Gordeyev
IMF improves Armenia`s GDP growth forecast for 2022 to 5%IMF improves Armenia`s GDP growth forecast for 2022 to 5%
Halal to open office in ArmeniaHalal to open office in Armenia
Government of Armenia approves regular applications for  implementation of subvention programs in 7 regions of countryGovernment of Armenia approves regular applications for  implementation of subvention programs in 7 regions of country
Process of discussing construction project of new power unit in  Armenia begunProcess of discussing construction project of new power unit in  Armenia begun
How long will the drama with rising dram last? - Haykaz FanyanHow long will the drama with rising dram last? - Haykaz Fanyan
Service sector is main driver of double-digit economic growth in  ArmeniaService sector is main driver of double-digit economic growth in  Armenia
ADB: Armenia is a country of great opportunitiesADB: Armenia is a country of great opportunities
Armenia`s government plans renovation of 500km of roads Armenia`s government plans renovation of 500km of roads 
ARARATBANK resumes payment of dividends in 2022 and plans new issue  of sharesARARATBANK resumes payment of dividends in 2022 and plans new issue  of shares
At the end of 2021, EDB investment portfolio reached USD 4.5 billionAt the end of 2021, EDB investment portfolio reached USD 4.5 billion
Business community of Armenia calls on economic authorities to take  urgent measures to rescue businesses that suffered greatly from sharp  revaluation of dramBusiness community of Armenia calls on economic authorities to take  urgent measures to rescue businesses that suffered greatly from sharp  revaluation of dram
Armenian NPP has been connected to country`s national gridArmenian NPP has been connected to country`s national grid
Armenian Deputy PM took part in meeting of EDB CouncilArmenian Deputy PM took part in meeting of EDB Council
Rustam Badasyan proposed to WCO Secretary General to hold 6th Global  Canine Forum in YerevanRustam Badasyan proposed to WCO Secretary General to hold 6th Global  Canine Forum in Yerevan
Armenia, Korea stress necessity to conclude intergovernmental  agreement on cooperation in customs mattersArmenia, Korea stress necessity to conclude intergovernmental  agreement on cooperation in customs matters
FLY BAGHDAD launches Baghdad-Yerevan-Baghdad flightsFLY BAGHDAD launches Baghdad-Yerevan-Baghdad flights
Armenia`s exchange market oversupplied with US dollars - expert Armenia`s exchange market oversupplied with US dollars - expert 
Opening of the second customs zone on Upper Lars will increase the  throughput capacity of the checkpoint by 30% - KerobyanOpening of the second customs zone on Upper Lars will increase the  throughput capacity of the checkpoint by 30% - Kerobyan
FLYONE ARMENIA sends its 100.000th passenger on flightFLYONE ARMENIA sends its 100.000th passenger on flight
Fly Arna office opened at Zvartnots International AirportFly Arna office opened at Zvartnots International Airport
Different prices for same product or service can not be set,  depending on method of payment, cash or non-cash -CBA  message Different prices for same product or service can not be set,  depending on method of payment, cash or non-cash -CBA  message 
ARARATBANK to act as a major sponsor of UAV contest in ArmeniaARARATBANK to act as a major sponsor of UAV contest in Armenia
Armenia can achieve economic growth of 7-9% in 2022Armenia can achieve economic growth of 7-9% in 2022
Armenia`s authorities to invest in new capital programmes Armenia`s authorities to invest in new capital programmes 
Registered jobs and taxes on them are again unprecedented in Armenia Registered jobs and taxes on them are again unprecedented in Armenia 
Inflation in Armenia is a social catastrophe: EconomistInflation in Armenia is a social catastrophe: Economist
Competition Protection Commission of Armenia on how exchange rate  affected cost of granulated sugar and sunflower oilCompetition Protection Commission of Armenia on how exchange rate  affected cost of granulated sugar and sunflower oil
Orion Summit 2022: The main challenge for Armenia is a change in  mindsetOrion Summit 2022: The main challenge for Armenia is a change in  mindset
EPIC announces start of accepting applications for participation in  Entrepreneurship World Cup EPIC announces start of accepting applications for participation in  Entrepreneurship World Cup 
ACBA Leasing has rebranded and intends to double its leasing  portfolio in next 2 yearsACBA Leasing has rebranded and intends to double its leasing  portfolio in next 2 years
Read more


Exchange rates
04.07.2022
RUB7.41-0.05
USD407.52-0.43
EUR425.90-0.45
GBP494.732.91
CAD317.361.58
JPY30.10-0.04
CNY60.76-0.25
CHF424.720.08