MTS sold its Armenian subsidiary
Posted: Sat Jan 18, 2025 9:24 am
Mobile TeleSystems (MTS) announced the sale of its Armenian subsidiary, MTS Armenia (trademark Viva-MTS). The buyer was the Cypriot offshore Fedilco Group. The amount of the deal was not disclosed. The MobiDream payment system was also included in the transaction.
Complex approval process
In early 2023, MTS applied to the Public Services Regulatory Commission of Armenia (PSRC) for permission to sell MTS Armenia to Fedilco Group. The formal owner of MTS Armenia is the Cypriot offshore Aramayo Investments, uk whatsapp number list which MTS owns through the Luxembourg offshore Allegetto Holding.
It was Allegetto Holding that was going to buy Fedilco Group. However, in the spring of 2023, the Public Services Regulatory Commission refused to approve this transaction, citing national security requirements and state interests.
But already in the autumn of 2023, the PSRC reviewed this transaction again and approved it. A new turn in the transaction occurred in early 2024: then the PSRC refused to approve the deal for the purchase by the Russian MTS of a 100% stake in MTS-Armenia from Allegetto Holding. At that time, MTS-Armenia told the Interfax agency that it was an intra-group transaction that would simplify the ownership structure of the Armenian subsidiary of MTS.
Now MTS has emphasized that all necessary permits have been received to carry out the transaction, including permits from the State Commission for the Protection of Economic Competition of Armenia and the Public Services Regulatory Commission.
Who is behind the buyer of MTS-Armenia?
MTS Armenia stated that the company's ultimate owners are now ZHe Zhang and Konstantin Sokolov. They are said to be investors with experience in telecommunications, finance, energy and asset management. MTS Armenia also reported that the new owners of the company have decided to transfer 20% of the company to the state free of charge.
Complex approval process
In early 2023, MTS applied to the Public Services Regulatory Commission of Armenia (PSRC) for permission to sell MTS Armenia to Fedilco Group. The formal owner of MTS Armenia is the Cypriot offshore Aramayo Investments, uk whatsapp number list which MTS owns through the Luxembourg offshore Allegetto Holding.
It was Allegetto Holding that was going to buy Fedilco Group. However, in the spring of 2023, the Public Services Regulatory Commission refused to approve this transaction, citing national security requirements and state interests.
But already in the autumn of 2023, the PSRC reviewed this transaction again and approved it. A new turn in the transaction occurred in early 2024: then the PSRC refused to approve the deal for the purchase by the Russian MTS of a 100% stake in MTS-Armenia from Allegetto Holding. At that time, MTS-Armenia told the Interfax agency that it was an intra-group transaction that would simplify the ownership structure of the Armenian subsidiary of MTS.
Now MTS has emphasized that all necessary permits have been received to carry out the transaction, including permits from the State Commission for the Protection of Economic Competition of Armenia and the Public Services Regulatory Commission.
Who is behind the buyer of MTS-Armenia?
MTS Armenia stated that the company's ultimate owners are now ZHe Zhang and Konstantin Sokolov. They are said to be investors with experience in telecommunications, finance, energy and asset management. MTS Armenia also reported that the new owners of the company have decided to transfer 20% of the company to the state free of charge.