The Government of Armenia Has Not Sold Its Stake in Viva Armenia: Clarification

In response to circulating information regarding the Government's sale of its stake in Viva Armenia for $50 million, we clarify that during the Government's meeting on August 7, 2025, approval was not given for the sale of the Government's stake in Viva Armenia. Instead, the Government's decision allowed for the signing of a sale option agreement with the other shareholder of Viva Armenia, Fedilco Group Limited.

The Government of Armenia reports that under the option agreement, the Government has the right (but not the obligation) to demand the other shareholder buy the 110,000 ordinary shares owned by the Government for $50 million any time before May 15, 2028, provided the conditions set forth in the decision's annex are met. In other words, the decision grants the Government the right, with the choice to utilize or not utilize this right to be determined at the Government's discretion.

It is also reminded that the Government has approved the signing of a deal to sell 20% of its stake in the telecommunications company Viva Armenia, which it received as a gift.