The Public Services Regulatory Commission (PSRC) of Armenia has approved the sale of 100 percent of the shares of MTS Armenia CJSC.
"The decision was made at today's session of the commission," Liana Azizyan, spokesperson of the PSRC, told the media Wednesday.
Earlier, it was reported that MTS Armenia CJSC will be sold to the Cypriot company Fedilco Group Limited.
On November 3, MTS Armenia CJSC applied to the PSRC informing that the Fedilco Group Limited company registered in Cyprus wants to acquire 100 percent of its shares from Aramayo Investments Limited company.
The respective draft decision stated that the Ministry of High-tech Industry and the National Security Service of Armenia have no objections to the conclusion of this transaction.
In April, however, the Competition Protection Commission of Armenia had prohibited Fedilco Group Limited from acquiring the shares of MTS Armenia CJSC.
The PSRC also had opposed this transaction, stating that it harms or may harm the state interests and national security of Armenia.