Government Sells Its Stake in Viva Armenia

The government has approved the signing of a transaction to sell its 20 percent stake in the telecommunications company Viva Armenia, received as a gift.

The Cypriot company Fidelico Group Limited, a shareholder in Viva Armenia, has proposed that the government enter into an option agreement, which the executive intends to approve. The corresponding decision is expected to be made at the government meeting tomorrow.

Under the agreement, if the government sells its 20 percent stake in the company, it will receive 50 million dollars.

Concerns regarding the decision have been raised by the Ministry of Finance and the Ministry of Justice.