MTS closes sale deal with Fedilco Group Limited

ArmInfo. The MTS PJSC announces the closing of the transaction for the sale of 100% of the shares of  its subsidiary in the Republic of Armenia, MTS Armenia CJSC (trademark Viva-MTS) - to Fedilco Group Limited (Republic of Cyprus).

As MTS said in a statement, the deal also included MobiDram CJSC, a  payment system providing financial services in the Armenian market, a  100% subsidiary of MTS Armenia.

Earlier, ArmInfo reported that the Russian corporation "Mobile  TeleSystems", which is the actual controlling shareholder of the  Armenian company "MTS-Armenia", applied to PSRC with a request to  purchase 100% of the shares of MTS Armenia from Aramayo Investments  Limited registered in Cyprus (part of the chain of shareholders  MTSArmenia). "It is planned that as a result of the transaction, the  chain of shareholders of the MTS Armenia company will be reduced,  which will ensure more effective interaction between MTS and MTS  Armenia CJSC. The company will continue to remain a member of the MTS  Group and will be controlled by MTS," the company said in a  statement.

On January 17, the Regulator refused to give consent to conclude a  transaction to transfer control over MTS Armenia CJSC. The Ministry  of High-Technological Industry of Armenia opposed it on the grounds  that it had already approved an application for the sale of shares in  MTS Armenia as part of another application, as well as "based on  state interests."

In November 2023, PSRC approved the sale of 100% of the shares of MTS  Armenia to the Cypriot Fedilco Group Limited from the sole  shareholder of MTS Armenia - Aramayo Investments Limited. It was  noted that after the conclusion of the transaction, MTS Armenia will  cease to be a member of the MTS Group - the Russian  telecommunications operator PJSC Mobile Telesystems.