K. Sokolov Archive

Tag: VIVA ARMENIA

  • Reuters: Investigation into Trump Donor Konstantin Sokolov

    October 16, 2026

    On October 15, 2026, Reuters published an investigation titled “Trump donor leading Caucasus fund has major Armenia holdings, Russia business history”. The report examines Konstantin Sokolov’s business interests in Armenia, his appointment to lead a US-backed investment fund, and his business history in Russia.

    The Reuters Reporting Team

    The investigation was written by Jonathan Landay, Alexandra Ulmer and Maria Tsvetkova, journalists with experience covering national security, political investigations, corruption and international conflicts.

    Jonathan Landay is a Reuters national security correspondent. Before joining Reuters, he worked at McClatchy, Knight-Ridder, The Christian Science Monitor and United Press International. In 2015, he was a Pulitzer Prize finalist for his coverage of the Senate report on the CIA’s torture programs. He is also the co-author of the film Shock and Awe.

    Alexandra Ulmer covers US politics, with a focus on Republicans, political donors and artificial intelligence. She previously spent four years in Venezuela reporting on the humanitarian crisis and investigating corruption, and has also worked in India, Chile and Argentina. She was named Reuters’ Reporter of the Year in 2015 and has won an Overseas Press Club award.

    Maria Tsvetkova is an investigative journalist originally from Moscow who covers Russia’s invasion of Ukraine as part of an international reporting team. Her work has taken her to conflict zones in Ukraine and Nagorno-Karabakh, as well as to Armenia, Turkey and Iraq.

    The investigation also credited Lucy Papachristou with additional reporting from Tbilisi, Michele Kambas from Nicosia, Cyprus, and Simon Lewis from Washington, DC. Richard Valdmanis edited the report.

    The article was published under Reuters’ editorial standards and the Thomson Reuters Trust Principles.

    Sokolov’s Business Interests and His Role in a US-Backed Fund

    Reuters reports that Konstantin Sokolov, a Russian-born businessman and major Republican donor, was appointed in January to lead the $201 million Trans-Caspian Enterprise Fund.

    The fund’s mandate covers Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Its stated investment priorities include critical minerals, energy and rail infrastructure. The initiative forms part of a broader US effort to develop trade and investment routes across the South Caucasus and Central Asia, potentially reducing the region’s reliance on Russian and Chinese infrastructure.

    Reuters examined the relationship between the fund’s geographical mandate and Sokolov’s private commercial interests. According to the investigation, Sokolov and Chinese business partner Zhe Zhang acquired control of Viva Armenia in January 2024 from Russia’s largest mobile provider, MTS.

    The report also covers the acquisition of Armenia’s Teghout copper and molybdenum mine by Sokolov’s Texas-based Dynamic Frontier Holdings. The company said it received authorisation from the US Treasury Department’s Office of Foreign Assets Control (OFAC) on June 1 to purchase the mine from VTB, a sanctioned Russian state-owned bank.

    Six ethics experts who reviewed the reporting told Reuters that Sokolov’s business interests raised potential conflict-of-interest concerns because his position could give him control over government funds capable of benefiting companies in which he holds interests.

    Sokolov’s representative said his private equity firm, IJS Investments, was prohibited from investing in his businesses and that he had complied with all due diligence and security requirements.

    Reuters explicitly stated that it found no indication of wrongdoing by Sokolov. The article nevertheless raises questions about how his commercial interests intersect with the objectives of a US-backed investment vehicle.

    The Russian Ties Investigation: Business History, Citizenship and Passport Records

    A substantial part of the Reuters report examines Sokolov’s earlier business activities in Russia and the documentary record relating to his connections with the country.

    Reuters reviewed a 2015 promotional brochure for the now-defunct, Liechtenstein-registered Gotthard Investment Fund, a Russia-focused real estate investment operation. The brochure listed Sokolov as a fund manager and described the fund’s relationships with Russian institutions in the following terms:

    “strong and long-lasting personal and professional trust relationships forged over the last 20 years with Moscow, St. Petersburg and Federal governments.”

    A former project manager at the fund, speaking to Reuters on condition of anonymity, recognised the brochure as authentic.

    Sokolov’s lawyers disputed its authenticity. According to Reuters, they said Sokolov did not believe the brochure was genuine and argued that its logo did not appear to be one used by the fund.

    The report also addresses Sokolov’s Russian citizenship. His representative told Reuters:

    “Mr. Sokolov has no relationships with Russian government officials or the Russian government.”

    The representative added that Sokolov did not hold Russian citizenship.

    Reuters, however, could not independently confirm that Sokolov no longer held Russian citizenship. The agency also reported that he used a Russian passport for international travel as late as 2016, citing travel records reviewed by its journalists.

    These findings concern separate but related questions: Sokolov’s role in a Russia-focused investment operation, the authenticity of a document describing relationships with Russian government institutions, his stated citizenship status and the historical record of his international travel.

    The report does not establish when Sokolov may have ceased to hold Russian citizenship. Nor does it establish that the brochure’s claims about government relationships were accurate. Reuters presents the documentary material, the former project manager’s account and the objections made by Sokolov’s representatives.

    Security Review and Questions for Washington

    The Russian business history examined by Reuters formed part of a broader discussion about the scrutiny appropriate for someone managing a US-backed investment fund.

    Richard Painter, a University of Minnesota professor who served as ethics counsel to former President George W. Bush, told Reuters:

    “I’d want a very thorough security clearance review if I were in the US government.”

    Reuters reported that the White House referred questions about Sokolov to the State Department. The department did not provide details about his background check or whether he had received a security clearance.

    The investigation also notes Sokolov’s political donations. He was among 37 corporate and individual donors listed in connection with Trump’s White House ballroom project. The Washington Post reported that he donated $1 million to the project. Federal Election Commission data cited by Reuters indicate that Sokolov has also donated approximately $13 million to Republican political groups.

    Taken together, these elements place Sokolov’s private business interests, political contributions and Russian business history within the context of his appointment to a fund serving US strategic and economic objectives.

    Reuters found no indication of wrongdoing by Sokolov. His representatives denied ties to the Russian government and disputed the authenticity of the Gotthard brochure. The agency could not independently confirm his current Russian citizenship status.

    The central issue raised by the report is therefore one of scrutiny and public accountability: what the available documents establish about Sokolov’s past, what remains disputed, and how those facts should be assessed in light of his responsibilities at a US-backed investment fund.

    Source: https://www.reuters.com/business/media-telecom/trump-donor-leading-caucasus-fund-has-major-armenia-holdings-russia-business-2026-10-15/

  • Mesrop Manukyan (MP, Armenia Alliance) to Ruben Rubinyan (Candidate for Speaker): Alleging Sokolov-Linked Conflicts of Interest in Banking, Telecom and Mining

    August 2, 2026 (transcript of a parliamentary speech originally delivered in Armenian; video published by Yerevan Today on YouTube)

    During the first session of Armenia’s 9th convocation of the National Assembly, opposition MP Mesrop Manukyan delivered a sharp critique of ruling-party candidate for Speaker, Ruben Rubinyan. Manukyan drew comparisons between the financial trajectories of former Speakers Ararat Mirzoyan and Alen Simonyan and the current candidate, alleging conflicts of interest tied to Rubinyan’s brother’s positions in banking and telecommunications, as well as the growing influence of businessman Konstantin Sokolov in Armenia’s strategic sectors. Manukyan concluded that Rubinyan overshadows his predecessors, calling him the “octopus” of the Civil Contract party.

    Full Translation from Armenian to English:

    “Dear citizens, those who have held the position of Speaker of Parliament from the Civil Contract party have undergone certain transformations. I would like to delve a little deeper into this and understand, Mr. Rubinyan, from what point you started and where you will end up.

    Ararat Mirzoyan once spoke of his financial difficulties, of being denied credit to purchase a television. Today, he walks about in a Brunello Cucinelli vest worth several million drams. In Yerevan, near the Red Cross, he is acquiring a mansion — this is from his declaration.

    Now, I see no issue with a high-ranking official of the Republic of Armenia — and that includes you, Mr. Rubinyan — presenting themselves with dignity, as they represent the state. However, the question arises: how do these transformations take place? Similar questions have also emerged regarding former Speaker of the National Assembly Alen Simonyan. His property transactions have become a matter of public discussion.

    Now let us turn to you, Mr. Rubinyan. You have stated that since late 2021, you have been a member of the negotiation group with Turkey — this is well known. In 2022, Haybusiness Bank was acquired by a Swiss company, and the state became a 25% equity shareholder. The press has speculated that this is linked to Konstantin Sokolov. Today, Sokolov has entered our Armenian life, our Armenian reality. I will note an interesting fact: Ruben Rubinyan’s brother is today the First Deputy Chairman of the Management Board of Amio Bank CJSC and Chief Business Development Director, as well as a member of the board.

    Here is an interesting point: is there not a conflict of interest in the Central Bank being an equity shareholder in a commercial bank? In other words, how can the Central Bank go and audit this company? But I will set that aside and continue, as I have much more to say.

    In 2023, Mr. Rubinyan, MTS Armenia submitted an application to purchase from some offshore-registered auto dealer — I apologize for the phrasing, as this individual, if I am not mistaken, is a certain 50-year-old Manolis Tarkhanadis from Cyprus, who was engaged in car trading but wished to acquire a mobile operator in Armenia. They were refused on national security grounds.

    However, in 2024, when Fedilco Limited — whose beneficiary is also Konstantin Sokolov — appeared, they acquired the assets. And here is an interesting development: following the deal, Levon Rubinyan was appointed to the management board of Viva Armenia.

    Next, we see that the Hrazdan Cement plant is owned by Amio Bank. Citizens, this is a commercial organization with state participation — the state should have managed it directly. It is heading toward bankruptcy, and there is state involvement here because it belongs to Amio Bank, where Levon Rubinyan is present.

    The next notable transaction: Rostelecom is acquired, Viva Armenia is acquired. Two major operators are being purchased, and on the management board of the very same Viva Armenia sits Levon Rubinyan.

    Is this normal?

    Furthermore, the same Sokolov was appointed chairman of the TRIPP fund. There is also information that he acquired a stake in our mining giants.

    We have identified four critical sectors: finance, infrastructure, mining, and telecommunications. For any state, these are sectors of strategic and defense significance — and in Armenia’s case, they are of particular importance to Turkey. And here the question arises: the TRIPP project manager Sokolov, with Turkey being the largest beneficiary of these projects, on one hand — and on the other hand, the brother of Armenia’s chief negotiator with Turkey is deeply involved in these processes.

    Is this strange or not?

    Mr. Rubinyan, I will speak honestly: I have tried to understand where Alen Simonyan and Ararat Mirzoyan started and where they have ended up. At this point, I cannot even identify your starting point. And it creates the impression that Alen Simonyan and Ararat Mirzoyan are small fish compared to you. You are the octopus of the Civil Contract — that is the impression I get, a sea monster. And this is not personal — it is a political assessment.”

  • HETQ.AM Trump’s Generous Donor to the Republican Party Appointed to Head the TRIPP+ Fund

    July 20, 2026 (brilliant article from HETQ.AM, author Vahe Sarukhanyan, published as of 17/07/2026)

    Konstantin Sokolov, who donated $11 million last year to the MAGA committee supporting U.S. President Donald Trump, has been appointed head of the U.S. government-backed TRIPP+ Enterprise Fund, which plans to invest $201 million in the South Caucasus and Central Asia. What does this appointment mean for Armenia, and who is really behind Armenia’s largest mobile telecommunications asset?

    Konstantin Sokolov is a U.S. citizen of Jewish descent and a businessman originally from St. Petersburg. His name has once again become the subject of widespread media attention—not because of his business activities this time, but because of politics.

    $201 Million for the Private Sector in the South Caucasus and Central Asia

    According to The Guardian, citing a spokesperson for the U.S. Department of State, the TRIPP+ Enterprise Fund—named after the TRIPP (Trump Route for International Peace and Prosperity) initiative—has been authorized to invest $201 million in the private sectors of the South Caucasus and Central Asia. The fund will operate in Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.

    The investments are intended to promote the strategic development of the private sector in these countries and may take the form of loans, equity investments, and grants.

    TRIPP+ Is Not the Manager of the TRIPP Project

    To avoid confusion, it is important to note that the TRIPP+ Enterprise Fund is not responsible for managing the TRIPP project itself.

    A joint document published on January 13, 2026, by the foreign ministries of Armenia and the United States, revealed that the two countries will establish the TRIPP Development Company, which will oversee the implementation and infrastructure development of the TRIPP project.

    Under the agreement, 26% of the company will be owned by Armenia, while 74% will belong to the United States, specifically to TRIPP Development Company US, which will be incorporated in Delaware as a subsidiary of the U.S. International Development Finance Corporation (DFC).

    Armenia and the United States initiated the strategic cooperation agreement on the implementation of TRIPP on May 26, 2026, in Yerevan, and formally signed it remotely in June.

    During the Armenian government’s meeting on July 16, Foreign Minister Ararat Mirzoyan explained that:

    “An American investment company called TRIPP+ is being established to attract investments for the implementation of the project. Legally, it has an indirect relationship with our TRIPP Development Company. The head of the American investment company TRIPP+ has already been appointed.”

    Mirzoyan was referring to Konstantin Sokolov.

    Why Was Konstantin Sokolov Chosen?

    According to The Guardian, which cited four U.S. foreign assistance experts, appointing politically connected individuals to the boards of Enterprise Funds is common practice for the White House.

    Former Enterprise Fund official Don Niss noted that while such appointments are understandable, problems arise when politically connected appointees lack experience in investment banking, private equity, or the sectors in which the funds will invest.

    In Sokolov’s case, however, his professional background appears to support his appointment.

    According to his official biography, the 51-year-old businessman has led restructuring projects for sovereign wealth funds and central banks, steered the listing of firms on all major stock exchanges and provided strategic counsel to governments and major companies. 

    One notable detail, though, is absent from his official biography.

    According to records from the U.S. Federal Election Commission, Sokolov has become an active political donor.

    While he contributed only $3,600 to Barack Obama’s presidential campaign in October 2008, in 2025 he donated $11 million to the MAGA (Make America Great Again) Committee supporting President Donald Trump. In March 2026, he contributed another $443,000 to the Republican National Committee.

    Notably, according to FEC records, Sokolov made political donations only twice: once in 2008, and then again beginning in 2025.

    Beyond his support for President Trump and the Republican Party, Sokolov is also among the 36 donors who contributed to the construction of the new White House Ballroom. Although the amount of his personal donation has not been disclosed, President Trump has stated that donors collectively contributed more than $350 million to the project.

    Sokolov’s Footprint in the Armenian Economy

    Hetq first wrote about Konstantin Sokolov in early 2024, when it was officially announced that he had become one of the beneficial owners of Viva Armenia, the country’s largest mobile telecommunications operator.

    However, Hetq had obtained information about both Sokolov and the company’s other ultimate beneficial owner, Chinese national Zhe Zhang, several months earlier, in 2023.

    In April 2023, Armenia’s Public Services Regulatory Commission (PSRC) refused to approve the transfer of control over MTS Armenia (now Viva Armenia).

    The company’s Russian parent, MTS, sought to sell its Armenian subsidiary, but the PSRC referred the proposed transaction to the Ministry of High-Tech Industry, which in turn consulted the National Security Service (NSS). The state bodies ultimately objected to the deal, concluding that approving it would harm—or could potentially harm—Armenia’s national security or state interests.

    According to a Hetq source, the authorities rejected the transaction because they were unable to identify the ultimate beneficial owner of the acquiring entity. The lack of transparency regarding who would ultimately control Armenia’s largest mobile operator was considered a security risk.

    Later, Sokolov and Zhang emerged through their Cyprus-registered companies.

    According to Hetq’s source, they stated that the funds intended for the acquisition of MTS Armenia would come from their family trusts. However, the origin of those assets, the nature of the trusts, their activities, and other essential information were never adequately disclosed.

    Eventually, Armenian authorities approved the transaction in November 2023. Ownership of MTS Armenia officially changed in January 2024, with Zhe Zhang becoming the ultimate beneficial owner of 75% of the company and Konstantin Sokolov acquiring the remaining 25%.

    In February 2024, the new owners donated a 20% stake in Viva Armenia to the Armenian government. As a result, Zhang’s ownership was reduced to 60%, and Sokolov’s share became 20%.

    The Armbusinessbank Deal

    Hetq also reported on the sale of Armbusinessbank (now AMIO Bank), 75% of which was acquired by a Swiss investment fund owned by a fund registered in Liechtenstein. The management of latter had been delegated to a Hong Kong company owned by Zhe Zhang.

    According to Hetq’s source, Sokolov acted as a representative and adviser to the foreign funds that owned the bank.

    The source further explained that Zhang and Sokolov essentially specialize in arranging corporate acquisitions. Their role includes organizing negotiations, coordinating transaction terms, representing the actual beneficial owners—rather than serving as the beneficial owners themselves—executing transactions, and submitting documentation to the relevant government authorities.

    Hetq subsequently reported on several earlier transactions involving Sokolov. One of them concerned a Canadian investor who filed a lawsuit in a Cypriot court against his Russian business partners, seeking to recover $2.5 million in investments.

    Although the Canadian investor ultimately lost the case, the story attracted attention because an article about it was later removed from a Cypriot news website, though an archived version remained available.

    Following Hetq’s publication, there was also an unsuccessful attempt to have the newspaper’s article removed from Google Search.

    It is perhaps no coincidence that shortly after becoming a beneficial owner of Viva Armenia, Sokolov launched his personal website on February 5, 2024. The site presents his biography, personal story, philantropy, and other information.

    The move creates the impression that a businessman about whom very little had previously been known—and whose online presence largely consisted of reports about investment disputes and an unsuccessful investment project in Russia—sought to establish a more positive public profile after acquiring a stake in Armenia’s largest mobile operator and to dispel some of the mystery surrounding his background.

    According to Hetq’s sources, Sokolov is highly sensitive to public reporting about him, particularly criticism related to his business activities.

    What Is an Enterprise Fund?

    An Enterprise Fund is a financial mechanism established by the U.S. government, with origins dating back to 1989, when the U.S. Congress passed the Support for East European Democracy (SEED) Act.

    The initiative was designed to promote private-sector development in former socialist countries as they transitioned to market economies.

    The first Enterprise Funds were created for Poland (1990), Hungary (1990), Czechoslovakia (1991), Bulgaria (1992), Romania (1994), the Baltic states (1995), and Albania (1995). Since 1989, the U.S. government has established 13 Enterprise Funds.

    Financial Status of U.S. Government-backed CEE Funds as of September 30, 2003

    Each fund operates as an independent, autonomous organization governed by its own board of directors, while the U.S. government oversees its activities.

    According to the U.S. Department of State, this model was specifically designed so that the Funds could deliver assistance as rapidly as possible, with enough flexibility to develop programs and use a variety of investment approaches to address specific conditions in each country.

    Credits: https://hetq.am/en/article/182743

  • The Guardian: Trump Ballroom Donor to Lead State Department’s $200m Armenia Fund

    Konstantin Sokolov, who gave undisclosed sum and has not held government job before, to chair Tripp+ trade project

    July 14, 2026 (The Guardian, Author: Cate Brown; original publication)

    Konstantin Sokolov, a Russian-born private equity investor in Chicago, will serve as chairman of a new state department enterprise fund overseeing more than $200m designated for a central Asia trade corridor, including investments in transportation, energy infrastructure and critical minerals, the Guardian has learned. The state department confirmed his appointment on Friday.

    Sokolov was one of 36 donors, including 21 corporations and 15 individuals and family foundations, who Donald Trump said contributed over $350m to his ballroom project.

    Two-thirds of the corporate donors have since received government contracts, according to research by Public Citizen, a government watchdog group. And several individual donors have received top advisory roles or political appointments, including Benjamin Leon Jr, a Cuban American healthcare magnate who was appointed US ambassador to Spain after his ballroom contribution, and Harold Hamm, an 80-year-old Oklahoma oil executive who successfully secured tax breaks for his company and has helped shape Trump’s energy policy.

    Sokolov is the latest ballroom donor to receive a government position. The sum of his gift has not been disclosed. He has not held a previous government job.

    Campaign finance records show that Sokolov has given more than $12m to Republican campaigns and political groups during Trump’s second term, including $11m to the president’s Super Pac Maga Inc, and $443,000 to the Republican National Committee. He was previously a modest Obama donor and contributed $3,600 to the former president’s 2008 campaign.

    Sokolov declined a Guardian interview request and did not respond to a detailed list of questions about his appointment. The White House referred questions to the state department.

    The Tripp+ enterprise fund, where Sokolov serves as founder and chair, takes its name from the Trump route for international peace and prosperity, a 27-mile trade corridor spanning southern Armenia and Azerbaijan. A state department spokesperson said the $201m fund is authorized to make loans, equity investments and grants promoting strategic private sector development in the south Caucasus and central Asia, including in Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

    Vice-President JD Vance, during a visit to Armenia’s capital, Yerevan, in February, described the Tripp+ fund as part of a “historic transformation” that would “open up a whole new world of trade, transit and energy flows” .

    When Marco Rubio, the secretary of state, and the Armenian foreign minister, Ararat Mirzoyan, signed the Tripp economic and security agreement in late May, Mirzoyan told the press they were “laying groundwork for the sort of economic engagement that allows Armenians to make money and find prosperity and Americans to do the same”.

    It’s unclear exactly how Sokolov or America may benefit from the fund, or if he will receive compensation for his role, but Sokolov is a major shareholder in Armenia’s largest telecommunications company, Viva Armenia, and holds positions with the Northern Pillar Energy Consortium, a clean energy and fiber-optic undersea cable initiative connecting Europe and Africa, and chair of Pelagos Data Centres, according to his personal website.

    He is also the founder of IJS Investments, a Chicago-based private equity firm specialising in “future ready” energy and telecommunications, and Gotthard Investment AG, a Zurich-based private equity firm focused on financial services, energy and global real estate.

    A state department spokesperson said the fund would abide by applicable statutory requirements, including annual reporting and independent audits to ensure transparency and accountability, as well as with applicable grant provisions including conflict of interest requirements.

    Four US foreign assistance experts said that it was customary for the White House to select the board of US enterprise funds. Appointees have often had ties to the US administration, said Don Niss, a former program officer for US enterprise funds in eastern Europe, as well as cultural or business ties relevant to the fund.

    “It’s not unreasonable for politically connected people to get involved,” Niss said. “It’s an issue when those politically connected people don’t have expertise in investment banking, private equity or industries related to the types of investments they’ll be making.”

    Sokolov has been working as an investor for more than 20 years, including in multinational infrastructure and telecommunications projects. His personal biography also notes his background offering strategic counsel to governments and major companies.

    A second former USAID administrator said plenty of wealthy political donors used to run the boards of US enterprise funds – including private equity founder Michael Granoff, a major Democratic donor appointed by President Clinton to serve as chairman of the Albanian-American enterprise fund in the 1990s.

    Asked about Sokolov, they said: “The question is, does he have the ability to personally benefit from investment decisions? The answer should be no.”

    The Trump administration has already taken unprecedented steps to deepen its ties with Armenia since the White House helped broker a peace agreement between Armenia and Azerbaijan last August, committing $9bn to boost its nuclear energy sector and selling $11m of US-made reconnaissance drones to its government, marking America’s first-ever military technology sale there.

    The Development Finance Corporation, a government investment arm led by the private equity scion Ben Black, has also announced plans to incorporate the “Tripp Development Company” to build railways and other infrastructure on the proposed route linking Azerbaijan to its contested exclave, Nakhchivan, and to Armenia and Turkey.

    Sokolov’s appointment to lead the Tripp+ enterprise fund is only the latest indication of America’s commitment to bolstering development in the strategic corridor linking west Asia to Europe.

    The US has operated 13 enterprise funds since 1989, when Congress sent $300m to fund investments in Hungary and Poland after the fall of the Soviet Union. Three years later, Congress authorized the executive branch to create new enterprise funds in any eastern European state. The Tripp+ enterprise fund was set up under the auspices of this post-Soviet legislation.

    The Trump administration has asked Congress to expand its authority to create enterprise funds anywhere in the world, according to its 2027 budget request.

    There are some indications that Sokolov’s funding pool will grow. Jeremy Lewin, a senior foreign aid official at the state department, told the Council of Foreign Relations in April that the agency had secured $400m to put towards the Tripp+ fund.

    “I think that’s, like, one test case of many about how we’re trying to reorient foreign assistance, especially in the sort of economic investment space,” Lewin said.

    Credit: https://www.theguardian.com/us-news/2026/jul/14/trump-ballroom-donor-central-asia-tripp

  • Buyer of MTS’s Armenian Subsidiary Acquires Rostelecom Asset in Country

    July 07, 2026 YEREVAN (Interfax)

    Cyprus’s Fedilco Group Limited (the Viva Armenia brand) has concluded a deal to acquire 100% of the shares of the Armenian subsidiary telecom operator GNC-Alfa (represented in Armenia under the trade name OVIO) from Rostelecom , the press service of the Cypriot company said.

    In July 2025, the Armenian Public Services Regulatory Commission allowed Rostelecom to sell 100% of the shares of its subsidiary GNC-Alfa to the new owner of CJSC MTS Armenia – Fedilco Group Limited.

    “The deal is a strategic step in the development of Viva Armenia and is aimed at the company forming a full-fledged convergent platform that unites mobile communications, fixed internet, television, telecommunications transport infrastructure, and digital services into a single ecosystem,” the company said.

    In January 2024, PJSC MTS announced the sale of 100% of the shares of CJSC MTS Armenia (operating under the brand Viva-MTS), as well as the payment system CJSC MobiDram (a 100% subsidiary of CJSC MTS Armenia) to Fedilco Group Limited. In March 2024, the brand Viva-MTS was changed to Viva Armenia.

    The owners of Fedilco Group Limited, registered in Cyprus, are European and Asian investors, with the ultimate beneficiaries being Zhe Zhang and Konstantin Sokolov.

    In 2024, Fedilco Group Limited transferred 20% of its shares to Armenia on a gratuitous basis.

    GNC-Alfa (CJSC GNC-Alfa) is one of the leading telecommunications operators in Armenia, providing broadband internet access, IPTV, and fixed telephony services for individuals and corporate clients.

    Credit: https://interfax.com/newsroom/top-stories/118322/