Tuesday, March 26 2024 18:57

ArmInfo. Viva-MTS Telecommunications operator has changed its company name to Viva Armenia.

Thus, As stated on the company's official website, starting from 25  March 2024, the company name of Viva-MTS has changed. The new company  name is "Viva Armenia" Closed Joint Stock Company.  "Accordingly,  General Terms of Provisioning Services of the Company have been  updated: "MTS Armenia" Closed Joint Stock Company has been changed to  "Viva Armenia" Closed Joint Stock Company.  To get acquainted with  the updated General Terms of Provisioning Services, please follow the  link ," they inform.

Earlier, on January 24, MTS announced  the closing of a deal to sell  100% of the shares of MTS Armenia CJSC,  its subsidiary in the  Republic of Armenia,  (Viva-MTS brand, serves  2.3 million  subscribers) to the Cypriot Fedilco Group Limited. The  transaction  also included MobiDram CJSC, a payment system providing  financial  services in the Armenian market, a 100% subsidiary of MTS  Armenia.

Before the deal, MTS Armenia owned by Aramayo Investments Limited,   which, in turn, through the Luxembourg Allegretto Holding was 100%   owned by MTS. According to media reports, the beneficiaries of   Fedilco Group Limited are Zhe Jang and Konstantin Sokolov. The   Armenian Regulator approved the sale of 100% of the shares of MTS   Armenia to the Cypriot Fedilco Group Limited from Aramayo Investments   Limited in November 2023. A similar application by Fedilco was   rejected by the Commission in April 2023 because it "threatened the   national security or state interests of the Republic of Armenia." 

Notably, the Government of Armenia accepted a 20% stake in the MTS  Armenia company as a gift and  transferred the authority to manage it  to the office of the Prime Minister of the Republic of Armenia. The  decision was approved on February 29 at a meeting of the Cabinet.

As Pashinyan's chief of staff, Arayik Harutyunyan, stated when   presenting the draft decision, the Fedilco Group Limited company is   the 100 percent owner of 550,000 shares of MTS Armenia CJSC with a   nominal value of 1,000 drams. "At the general meeting of the company   on February 16, 2024, it was decided to transfer 110,000 shares to   the Republic of Armenia, which is equivalent to 20% of the 100%   shares of "MTS Armenia" CJSC," he said.