---
title: MTS dumps Armenian unit - Developing Telecoms
description: Russian operator group MTS offloaded its Armenian unit MTS Armenia to Cyprus-based Fedlico Group after finally gaining regulatory approval.
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Russian operator group MTS offloaded its Armenian unit MTS Armenia to Cyprus-based Fedlico Group after finally gaining regulatory approval.

Interfax reported, the sale is for 100% of MTS Armenia, as well as the sale of the MobiDram payment system, a wholly owned subsidiary of MTS Armenia.

MTS gained regulatory approvals from the State Commission for the Protection of Economic Competition and the Public Services Regulatory Commission (PSRC), which threatened to [scupper the deal](https://developingtelecoms.com/telecom-business/operator-news/14842-regulator-to-reportedly-block-mts-armenia-sale.html) last year.

The PSRC approved the deal in mid-November and this is the second attempt from the Russian operator group to sell MTS Armenia. The first attempt was in spring 2023, which was rejected without a reason.

"The transaction is a continuation of implementing the MTS Group's transformation strategy aimed at further developing the ecosystem and core business in Russia. When there are favourable offers, MTS sells non-core assets or assets with limited potential for growth in value, directing the proceeds to developing key ecosystem business in Russia," said MTS in a statement to Interfax.

MTS Armenia recorded RUB1.1 million (US$12,300) in operating profit and RUB3.4 million (US$38,000) revenue in Q3 2023, up from RUB606,000 and RUB1.9 million respectively.

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