Monday, July 1 2024 18:19

ArmInfo. CJSC "Viva Armenia" announced rebranding - henceforth the company will continue to  operate in the Armenian market under the trademark (brand) Viva instead of Viva-MTS.

As explained by the company's press service, the updated brand in a  new way conveys the main concept underlying the company: serving the  technological capabilities of Viva to the needs and requirements of  people and society as a whole.

Earlier, in March of this year, the company had already changed its  legal name from Viva-MTS to Viva.  Even earlier, in January of this  year, MTS announced the closing of a transaction to sell 100% of the  shares of its subsidiary in Armenia - MTS CJSC to the Cypriot Fedilco  Group Limited. The transaction also included MobiDram CJSC, a payment  system providing financial services in the Armenian market, a 100%  subsidiary of MTS Armenia.

Before the deal, MTS Armenia belonged to Aramayo Investments Limited,  which, in turn, through the Luxembourg Allegretto Holding was 100%  owned by MTS.

According to media reports, the beneficiaries of Fedilco Group  Limited are Zhe Jang and Konstantin Sokolov. The Armenian Regulator  approved the sale of 100% of the shares of MTS Armenia to the Cypriot  Fedilco Group Limited from Aramayo Investments Limited in November  2023. A similar application by Fedilco was rejected by the Commission  in April 2023 because it "threatened the national security or state  interests of the Republic of Armenia."

In February of this year. The Cabinet of Ministers of Armenia  approved the decision to donate 20% of the shares of the MTS Armenia  company to the Government of the Republic of Armenia. The powers to  manage them were transferred to the Office of the Prime Minister of  the Republic of Armenia.

According to the company, it serves about 2.3 million subscribers.