MTS has closed an agreement to sell a subsidiary of MTS Armenia CJSC to the Cypriot company Fedilco Group Limited. This is reported in the operator’s press service.
The deal also included a subsidiary of MTS Armenia, MobiDram CJSC. It is a legal entity of a payment system that provides financial services in the Armenian market.
In early January it became known that the Armenian Public Services Regulatory Commission did not approve the reorganization of ownership of MTS Armenia, which the parent company planned to carry out.
To justify the refusal, the regulator indicated that MTS PJSC placed the Cypriot structure Aramayo Investments Ltd between itself and its Armenian subsidiary. At the same time, in August, MTS decided to abandon the intermediate link and directly enter the capital of MTS Armenia.
The reorganization request was rejected because in September MTS decided to sell MTS Armenia to another Cypriot structure: Fedilco.
Author:
Natalia Gormaleva
Source: RB
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