The Armenian government, at its Cabinet meeting Thursday, approved the signing of a deal to sell its 20-percent share—which it received as a gift—in Viva Armenia telecommunications company.

The matter was on the agenda of the unreported matters of the Cabinet meeting.

In particular, the Armenian government has decided to allow the prime minister's office to sign a put option contract—on behalf of the government—with Viva Armenia shareholder Fedilco Group Limited.

The Armenian government will receive $50 million from the sale of its 20-percent share.

In February 2024, Viva Armenia had donated 20 percent of its shares to the Armenian government.