Page 119 - RusRPTDec23

telecommunications sector, underscoring its position as a leading player in Russia's telecom industry.
The Armenian Public Services Regulatory Commission (PSRC) has prepared a draft resolution allowing the Cypriot Fedilco Group Limited to buy 100% of the shares of MTS Armenia. In the spring, the same regulator blocked the deal. The issue is on the agenda of the commission meeting, which will take place on Wednesday, November 15. The department received an application for approval of the transaction on November 3. Having studied it, PSRC came to the conclusion that there were no grounds for its rejection. The commission clarified that after the transaction the company will not be a member of the MTS group.
MTS Armenia is 100% owned by the Cypriot Aramayo Investments Limited (which, in turn, through the Luxembourg Allegretto Holding is 100% owned by MTS PJSC). In April, PSRC and the Commission for the Protection of Economic Competition of Armenia refused permission to change the owner of MTS Armenia shares. PSRC said that the Ministry of High-Technological Industry opposed the deal.
The sale of the asset will not significantly affect the company's performance. MTS Armenia's revenue for 2022 amounted to 7.9 billion rubles, or less than 1.5% of the revenue of the entire group.
9.2.9 Tourism corporate news
9.2.10 Utilities & Renewables corporate news 9.2.11 Mines and Minerals - gold & diamonds
Russia’s production of unrefined, semi-refined, or powdered gold shrank by 26.7% on the year and by 19.3% on the month in October, the Federal State Statistics Service said on Wednesday without disclosing absolute figures. In January–October, the output of gold fell by 2.2% on the year.
UK targets Russian gold in new sanctions package. The British government has targeted Russian gold in a new set of sanctions, the UK Foreign Ministry announced on November 8.
The EU is currently debating a twelfth sanctions package that will ban the import of Russian diamonds for the first time. Russia is one of the world’s
119 RUSSIA Country Report December 2023 www.intellinews.com