In today’s session, the Public Services Regulatory Commission rejected the application of “MTS Armenia” Company, which envisaged the acquisition of 100 percent of the shares of “MTS Armenia” GJSC by the “Mobile TeleSystems” Public Joint Stock Company (MOEX: MTSS) from the direct shareholder “ARAMAYO INVESTMENTS LIMITED” Company

The basis for the decision was the conclusion of the Ministry of High-Tech Industry, by which the transaction is rejected, because earlier the PSRC had approved another application for the sale of “MTS Armenia” shares.

With that, the PSRC has approved the transaction regarding the acquisition of 100 percent of the shares of “MTS Armenia” CJSC by “Fedilco Group Limited” from the sole shareholder of “MTS Armenia” CJSC “ARAMAYO INVESTMENTS LIMITED” Company.