The Sale of 'MTS Armenia' May Not Proceed Due to Objection

The sale of 'MTS Armenia' may not take place. The agenda for the Public Services Regulatory Commission's meeting on January 17 includes the question of rejecting the sale of 'MTS Armenia'. The reason cited is an objection raised by the Ministry of High Technology Industry of Armenia regarding the sale of the company.

On November 3, 2023, 'MTS Armenia' LLC applied to the Commission, informing them that 'Fedelco Group Limited', registered in Cyprus, intends to acquire 100% of the shares from 'Aramayoh Investments Limited'. On November 15, the Public Services Regulatory Commission approved the sale of the company. At that time, the Commission's decision noted that neither the Ministry of High Technology Industry nor the National Security Service of Armenia had raised objections.

'MTS Armenia' LLC had also approached the Public Services Regulatory Commission regarding the sale of 100% of its shares to 'Fedelco Group Limited' back in April 2023. At that time, the Commission rejected the transaction, citing opposition from the National Security Service of Armenia.