YEREVAN. – Mikael and Karen Vardanyan, the owners of Grand Holding company of Armenia, on Thursday issued a statement explaining why MPs Grigor Avalyan and Armen Babayan have given up their parliamentary seats.

“Nonpartisan MPs Grigor Avalyan and Armen Babayan, who are represented in the National Assembly by Grand Holding, will no longer be an MP,” the statement reads, in particular. “Just like Grigor Avalyan ten days ago, Armen Babayan today likewise wrote a petition and put down the MP mandate.

“In our view, there will no longer be a need for businessmen’s presence in the National Assembly of new Armenia.

“We are proud of our people, of our youth.”