The new owner of MTS Armenia will give the republic 20% of the operator’s shares – Kommersant
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New owner of MTS (MOEX: MTSS) Armenia” – the Cypriot Fedilco Group Limited – is going to transfer 20% of the operator’s shares into the ownership of Armenia. According to company representatives, the shares will be transferred to state ownership free of charge.
“This decision was made taking into account the strategic importance of MTS Armenia CJSC for the state,” says the company’s statement, quoted by Interfax.
Earlier today, January 24, MTS announced on the closing of the transaction for the sale of 100% of the shares of MTS Armenia (serving 2.3 million subscribers) to the Cypriot Fedilco Group Limited. Together with MTS Armenia, MobiDram (100% owned by MTS Armenia), which provides financial services in the country, was also sold.
Before the deal, MTS Armenia was owned by Aramayo Investments Limited, which, in turn, through the Luxembourg Allegretto Holding was 100% owned by MTS. According to Interfax, the beneficiaries of Fedilco Group Limited are Zhe Jang and Konstantin Sokolov. MTS has been trying to sell its Armenian subsidiary to them since January 2023, but it was only now possible to obtain approval from the authorities of the republic.
Read more about the deal in Kommersant’s material. “Armenia hung up”.
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