News - How did Cyprus company that bought MTS Armenia shares gain Public Services Regulatory Commission’s trust?

The Public Services Regulatory Commission (PSRC) of Armenia makes a purely technical decision regarding the sale of MTS Armenia—among the country's telecommunication operators. This was told to reporters Tuesday by the chairman of PSRC, Garegin Baghramyan, when answering the question what convincing argument did the PSRC have to change its decision after its negative conclusion in April, and how did the Cypriot company that bought the shares of MTS Armenia inspire confidence. "When an application is made for the acquisition of shares, the [Armenian] law assumes that the package is examined by the [aforesaid] commission. That is, it is checked from a purely technical point of view, whether it can carry out the activity or not. The rest of the issues, related to safety and national interest, are presented to the authorized body, the Ministry of High-Tech Industry, which, after discussing with the NSS [(National Security Service)], submits a conclusion," said Baghramyan. According to him, the NSS had submitted an initial negative position. "The last package that was submitted, I guess, there was additional information, there is the conclusion of the NSS," added Baghramyan. As for what has changed, he noted that he cannot say. "I don't see the study, only the conclusion is that they don't have a problem," noted Baghramyan. Earlier, we reported that the Public Services Regulatory Commission of Armenia approved the sale of 100 percent of the shares of MTS Armenia CJSC to Cypriot company Fedilco Group Limited.