The Fate of the 20% Stake in ‘MTS Armenia’ Will Be Managed by the Prime Minister's Office

The Prime Minister's Office will today manage the fate of the 20% stake in 'MTS Armenia' closed joint-stock company. This decision was adopted during the government meeting today.

The company 'Fedyilko Group Limited' has expressed a desire to transfer to the Republic of Armenia 110,000 shares equivalent to 20% of 'MTS Armenia' CJSC's 100% shares. Prime Minister Nikol Pashinyan stated that the government of Armenia gratefully accepts the donation.

'In this strategic sector, the people of Armenia, represented by the government, have the opportunity to participate and have a presence in a strategically significant organization. This is not the only format of the public's presence in companies, and I believe we should encourage our businesses to ensure the participation and involvement of citizens and subscribers in the management of companies,' he said.

Pashinyan noted that by accepting this donation, the government sends a message to other companies.

It is noteworthy that the company announced on January 24 that there had been a change of ownership. The Russian company was sold to the Cyprus-registered 'Fedyilko Group Limited'. The owners are European and Asian investors.