The Armenian government has been allocated a 20% stake in the telecommunications company "MTS Armenia". This decision was made during a cabinet meeting on February 29.
This move comes after the recent acquisition of the company by the Cypriot firm "Fedelta Group Limited", effectively leading to the exit of the Russian telecommunications company MTS from the Armenian market.
The state's share in "MTS Armenia" will be under the control of the Prime Minister's office and is recognized as a strategically important step. Prime Minister Nikol Pashinyan stated that such measures are aimed at ensuring Armenian citizens' access to key companies important for the country.
He emphasized that such initiatives align with the strategy of creating a more open and transparent economic environment. Since 2021, this is the third deal in which the government receives shares as a gift ranging from 12.5% to 20%.
"The people, through the government, own shares in three strategic companies," noted Nikol Pashinyan, referring to the Zangezur Copper-Molybdenum Plant (15%), the country's largest taxpayer, and Lydian Armenia (12.5%), which has the right to operate the Amulsar gold mine.
Currently, as announced during the cabinet meeting, work is underway to develop a state strategy for acquiring shares in private companies.
