Rostelecom may sell its Armenian asset for $40 mln
YEREVAN. July 3 (Interfax) - The deal for Rostelecom , which operates in Armenia under the OVIO brand, to sell 100% of the shares in its Armenian telecom subsidiary GNC-Alfa could amount to around $40 million, OVIO Deputy Director Boris Demirkhanyan said.
"The final transaction value will be determined during concluding discussions, but as of today it is estimated at approximately $40 million," Demirkhanyan told the Armenian media outlet MediaHub.
On July 2, Armenia's Public Services Regulatory Commission (PSRC) approved Rostelecom's sale of 100% of the shares in GNC-Alfa to the new owner of CJSC MTS Armenia, Cyprus-based Fedilco Group Limited (the brand Viva Armenia).
The share sale application was submitted to the commission by GNC-Alfa on May 7, 2025.
According to the decision published on the PSRC's website, the commission approved the transaction for selling 100% of GNC-Alfa shares to CJSC Viva Armenia.
The deal must be completed within six months of approval. The transaction amount remains undisclosed. According to the PSRC, the Armenian National Security Service and the High-Tech Industry Ministry raised no objections to the deal.
In January 2024, MTS PJSC announced the sale of 100% of the shares in CJSC MTS Armenia (operating under the Viva-MTS brand) and payment system CJSC Mobidram (a 100% subsidiary of CJSC MTS Armenia) to Cyprus's Fedilco Group Limited. In March 2024, the Viva-MTS brand was changed to Viva Armenia.
The owners of Cyprus-registered Fedilco Group Limited include European and Asian investors, with Zhe Zhang and Konstantin Sokolov as the ultimate beneficiaries. In 2024, Fedilco Group Limited transferred 20% of its shares to Armenia's government free of charge.
In December 2021, Rostelecom President Mikhail Oseyevsky said that he expected to sell GNC-Alfa for $25 million.
GNC-Alfa (CJSC GNC-Alfa) ranks among Armenia's leading telecom operators, providing broadband internet, IPTV and fixed-line telephony services for private and corporate clients.
The GNC-Alfa sale was also discussed in 2022. At that time, the PSRC approved the purchase by Tashir Group owner Samvel Karapetyan and his partner, but the transaction was not completed.
