The regulator approved the sale of shares of the Armenian subsidiary of MTS

The Public Services Regulatory Commission of Armenia confirmed the application “MTS Armenia” for the sale of its own shares to Fedilco Group Ltd, registered in Cyprus. About it reported “Sputnik Armenia”.

The Armenian subsidiary of MTS submitted an application to sell shares earlier in the spring, and the regulator initially rejected it. Today the commission announced that it was giving permission for the transaction, a new application for which was received on November 3. As a result of the sale of 100% shares, MTS Armenia will cease to be part of the MTS group.

Information about the sale of the operator’s shares appeared back in 2022, the publication indicates, and among the potential buyers the media named, for example, “Gazprom” and 1XBET.

Interviewed in March RBC experts notedthat the business in Armenia is a “noticeable” asset of the Russian group, but its sale will not significantly affect its performance due to incomparability in scale. Revenue “MTS Armenia” for 2022 amounted to 7.9 billion rubles, or less than 1.5% of the revenue of the entire group. Net profit amounted to 804 million rubles.