Regulator has given its consent to the acquisition of 100% of GNC-Alfa shares by Viva-Armenia
YEREVAN, July 2. /ARKA/. At a meeting on Wednesday, the Public Services Regulatory Commission (PSRC) of Armenia gave its consent to a deal to sell 100% of the shares of the authorized capital of the telecommunications operator GNC-Alfa (brand OVIO) to another telecommunications company - Viva-Armenia.
"A six-month period has been set for concluding a possible deal, starting fs Regulatory Commission (PSRC) of Armenia gave its consent to a deal to sell 100% of the shares of the authorized capital of the telecommunications operator GNC-Alfa (brand OVIO) to anotherrom the moment the Commission's decision comes into force," the regulator said in a statement on the Facebook page.
The draft resolution notes that on May 7 of this year, GNC-Alfa submitted an application for the transfer of control over it to the PSRC for approval, according to which Viva Armenia CJSC intends to acquire 100% of the shares of its authorized capital. On May 26, in response to a request from the PSRC, the Ministry of High-Tech Industry of Armenia reported that, within the scope of its authority, it has no objections regarding the conclusion of this transaction, also presenting the position of the National Security Service of the Republic on the absence of objections from the point of view of threats to the interests of national security.
According to the draft of the Public Services Regulatory Commission, the analysis of the application showed the absence of grounds for refusal in accordance with the relevant provisions of the Armenian Law “On Electronic Communications”.
About GNC-ALFA
In 2009, Rostelecom entered the Armenian telecommunications market under the GNC-ALFA brand. Its Armenian subsidiary, after rebranding, has been operating under the OVIO brand since November 28, 2024.
About Viva
Viva (Viva Armenia CJSC, formerly VivaCell) received a license to operate in 2004. In September 2007, after selling 80% of the shares, the company became a subsidiary of the Russian company Mobile TeleSystems (MTS). As a result of co-branding in 2008, the company's logo was changed to VivaCell-MTS.
In January 2024, Viva announced a change of ownership and left the Russian MTS Group.
The new shareholder of Viva Armenia CJSC is Fedilco Group Limited, a company registered in Cyprus, whose ultimate beneficiaries are Zhe Zhang and Konstantin Sokolov.
On February 29, 2024, the Government of Armenia accepted a 20% stake in MTS Armenia CJSC as a gift from Fedilco Group Limited. Today the company has a wide service network - 74 service centers in Yerevan and the regions, where MobiDram branches also operate.