Thursday, January 25 2024 13:46
Naira Badalian

New owner of MTS Armenia to transfer 20% of shares to Armenia`s  government 

New owner of MTS Armenia to transfer 20% of shares to Armenia`s  government 

ArmInfo.  The Cyprus-based Fedilco Group Limited company, which has acquired MTS Armenia, intends to transfer 20% of MTS Armenia shares to Armenia. 

The reason for the decision is the strategic importance of MTS  Armenia for the state, an official reports reads. 

On January 24, Mobile TeleSystems Public Joint Stock Company ("MTS"  or "the Company") (MOEX: MTSS), a digital ecosystem, announced the  closing of a 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).

The transaction also included MobiDram CJSC, a payment system  providing financial services in the Armenian market, a 100%  subsidiary of MTS Armenia.

MTS received all corporate approvals necessary for the transaction,  as well as permits from the regulatory authorities of the Republic of  Armenia: the State Commission for the Protection of Economic  Competition and the Public Services Regulatory Commission.  

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