Armenia’s PSRC gives green light to sale of Rostelecom Armenia to VivaCell-MTS

13 Dec 2018

Armenia’s telecoms regulator the Public Services Regulatory Commission (PSRC) has formally approved the sale of domestic fixed line and broadband services provider GNC-ALFA (trading as Rostelecom Armenia) to rival altnet MTS Armenia (VivaCell-MTS). The watchdog’s decision allows Rostelecom – the Russian parent which indirectly owns a 75% minus one share stake in GNC-ALFA via Cyprus-registered Filor Ventures Ltd – to sell all 5,000 shares in the Cypriot unit to VivaCell-MTS. Over the next three days GNC-ALFA is to submit a plan to PSRC for the sale of the shares, with the former’s CEO Hayk Faramazyan quoted by ARKA News as saying that while the takeover will not affect customers in any way, negotiations with VivaCell-MTS ‘continue to specify the cost of the deal, its re-branding and the date when the deal is to be closed’.

TeleGeography notes that VivaCell-MTS has been operating in Armenia since 2005. 80% of the company is owned by Russian powerhouse Mobile TeleSystems (MTS) and 20% by Lebanon-based Fattouch Group.