Viva-MTS, Armenia’s leading telecommunications operator, has announced that it is no longer owned by the Russian MTS Group, but by Fedilco Group Limited, a company registered in Cyprus.

Viva-MTS, which boasts two million customers in Armenia, says Fedilco Group Limited intends to transfer 20% of the shares of MTS Armenia to the Republic of Armenia, free of charge.

Viva-MTS, in a press release, identifies the ultimate beneficiaries of Fedilco Group Limited as Mr. Zhe Zhang and Konstantin Sokolov, describing them as investors with a diverse background in telecommunications, finance, energy, investment and asset management areas of business.