Ministry of High-Tech Industry backtracks greenlighting sale of MTS Armenia to Cyprus firm

13:07, 15 January 2024

YEREVAN, JANUARY 15, ARMENPRESS. Armenia's Ministry of High-Tech Industry has apparently reconsidered its earlier decision approving the sale of MTS Armenia, prompting the national regulator to convene a meeting to discuss the matter during a session on January 17.

The agenda of the January 17 meeting of the Public Services Regulatory Commission includes the item on rejecting the sale of MTS Armenia.

The regulator has explained its move by saying that the Armenian High-Tech Industry Ministry has objected to the sale, backtracking its earlier position. Such transactions require approval of relevant government agencies.

The Cyprus-registered Fedilco Group Limited, which seeks to acquire 100% of shares of MTS Armenia, requested permission to make the deal again in April 2023 but was rejected due to objections by the National Security Service.

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS