Metal Sky Star Acquisition Corporation Announces LOI with Fedilco Group Limited
Metal Sky Star Acquisition (NASDAQ: MSSA) has entered into a letter of intent to acquire Fedilco Group , which holds an 80% stake in Viva Armenia, a leading telecom company. Viva commands a dominant market position with a 61% share by active subscribers and 58.18% by total revenue in Armenia's telecom market, serving over 2.3 million unique subscribers. The company employs 1,132 staff and maintains roaming partnerships with 529 operators across 192 countries. As one of Armenia's Top 10 taxpayers, Viva has pioneered corporate social responsibility in the country's telecom sector following ISO 26000 standards.
Metal Sky Star Acquisition (NASDAQ: MSSA) ha firmato una lettera di intenti per acquisire Fedilco Group, che possiede l'80% delle quote di Viva Armenia, una delle principali aziende di telecomunicazioni. Viva detiene una posizione di mercato dominante con una quota del 61% in base agli abbonati attivi e del 58,18% in base ai ricavi totali nel mercato delle telecomunicazioni in Armenia, servendo oltre 2,3 milioni di abbonati unici. L'azienda impiega 1.132 persone e mantiene partnership di roaming con 529 operatori in 192 paesi. Come uno dei primi 10 contribuenti in Armenia, Viva ha pioniere la responsabilità sociale d'impresa nel settore telecom del paese seguendo gli standard ISO 26000.
Metal Sky Star Acquisition (NASDAQ: MSSA) ha firmado una carta de intención para adquirir Fedilco Group, que posee el 80% de Viva Armenia, una de las principales empresas de telecomunicaciones. Viva tiene una posición dominante en el mercado con una participación del 61% en términos de suscriptores activos y del 58,18% en ingresos totales en el mercado de telecomunicaciones de Armenia, sirviendo a más de 2,3 millones de suscriptores únicos. La empresa emplea a 1.132 personas y mantiene asociaciones de roaming con 529 operadores en 192 países. Como uno de los 10 principales contribuyentes de Armenia, Viva ha sido pionera en responsabilidad social corporativa en el sector de telecomunicaciones del país siguiendo los estándares ISO 26000.
Metal Sky Star Acquisition (NASDAQ: MSSA)가 Fedilco Group를 인수하기 위한 의향서를 체결했습니다. Fedilco Group은 아르메니아의 주요 통신사인 Viva Armenia의 80% 지분을 보유하고 있습니다. Viva는 아르메니아의 통신 시장에서 활성 가입자 기준으로 61%, 총 수익 기준으로 58.18%의 점유율을 가지고 있으며, 230만 명 이상의 고유 가입자를 서비스하고 있습니다. 이 회사는 1,132명의 직원을 고용하고 있으며, 192개국에서 529개의 사업자와 로밍 파트너십을 유지하고 있습니다. 아르메니아의 상위 10개 납세자 중 하나인 Viva는 ISO 26000 기준을 따르며 국가 통신 부문에서 기업의 사회적 책임을 선도해왔습니다.
Metal Sky Star Acquisition (NASDAQ: MSSA) a signé une lettre d'intention pour acquérir Fedilco Group, qui détient 80 % des parts de Viva Armenia, un leader du secteur des télécommunications. Viva occupe une position dominante sur le marché avec une part de 61 % en termes d'abonnés actifs et de 58,18 % en termes de revenus totaux sur le marché des télécommunications en Arménie, servant plus de 2,3 millions d'abonnés uniques. L'entreprise emploie 1.132 personnes et maintient des partenariats d'itinérance avec 529 opérateurs dans 192 pays. En tant que l'un des 10 principaux contributeurs fiscaux de l'Arménie, Viva a été un pionnier de la responsabilité sociale des entreprises dans le secteur des télécommunications du pays, suivant les normes ISO 26000.
Metal Sky Star Acquisition (NASDAQ: MSSA) hat ein Absichtsschreiben zur Übernahme von Fedilco Group unterzeichnet, das 80 % der Anteile an Viva Armenia, einem führenden Telekommunikationsunternehmen, hält. Viva hat eine dominante Marktposition mit einem Anteil von 61 % nach aktiven Abonnenten und 58,18 % nach Gesamterlösen im armenischen Telekommunikationsmarkt und bedient über 2,3 Millionen eindeutige Abonnenten. Das Unternehmen beschäftigt 1.132 Mitarbeiter und pflegt Roaming-Partnerschaften mit 529 Betreibern in 192 Ländern. Als einer der Top 10 Steuerzahler Armeniens hat Viva in der Telekommunikationsbranche des Landes die Unternehmensverantwortung nach den ISO 26000-Standards vorangetrieben.
- Dominant market position with 61% subscriber share and 58.18% revenue share in Armenia
- Large customer base of over 2.3 million unique subscribers
- Extensive international presence with 529 roaming partnerships across 192 countries
- Top 10 taxpayer status in Armenia indicating strong financial performance
- None.
Insights
This LOI represents a significant potential acquisition in Armenia's telecom sector. Viva's dominant market position with
The acquisition could provide Metal Sky Star strategic entry into a growing telecom market with established infrastructure and strong revenue streams. However, the deal's success hinges on regulatory approvals from Armenian authorities, which adds execution risk. The target's employee base of 1,132 suggests efficient operations for its market size, though integration and potential synergies remain to be detailed.
Armenia's telecom market presents an interesting growth opportunity due to increasing digitalization and economic development. Viva's position as a top-10 taxpayer suggests substantial revenue generation and profitability, making this a potentially value-accretive acquisition for MSSA shareholders. The company's CSR initiatives and ISO 26000 compliance indicate strong governance and community engagement, which could help maintain its competitive advantage.
However, investors should note that SPAC mergers often face execution challenges and potential dilution. The LOI stage is preliminary and final terms, valuation and financing details are yet to be disclosed. The geopolitical context in the Caucasus region also adds a layer of risk that requires careful consideration.
NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Metal Sky Star Acquisition Corporation, a Cayman Islands exempted company (NASDAQ: MSSA) (“Metal Sky Star” or the “Company”), announced today that it has entered into a letter of intent (the “LOI”) with Fedilco Group Limited, a Cyprus-based company (“Fedilco”) holding an
Viva stands out as the sole telecom company in Armenia included in the country’s Top 10 taxpayers list, underscoring its economic impact and significant contributions to national development. Viva currently has over 2.3 million unique subscribers (2,327,684) and holds a
Viva has established roaming partnerships with 529 operators across 192 countries, demonstrating a strong commitment to maintaining connections for its customers worldwide. It also pioneered corporate social responsibility (“CSR”) as a management model in Armenia’s telecom industry, guided by ISO 26000 standards on community impact and sustainability.
“We are excited to announce this LOI with Fedilco,” said Wenxi He, CEO of Metal Sky Star. “Viva is recognized as a trusted telecom market leader across Armenia, celebrated for its extensive reach and customer-first approach. We are confident that this partnership will position us well to capture Armenia’s economic growth trajectory and create added value for our shareholders.”
About Metal Sky Star Acquisition Corporation
Metal Sky Star Acquisition Corporation is a blank check company formed under Cayman Islands law to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses.
About Fedilco Group Limited
Fedilco Group Limited, incorporated in Cyprus, is the controlling shareholder of Viva, the most valuable company in Armenia’s telecom sector and a model of innovation in the telecom industry.
Forward-Looking Statements
This press release includes “forward-looking statements” concerning the proposed transaction with Fedilco. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the control of the Company, as outlined in the Company’s annual report for the fiscal year ending December 31, 2023, filed with the SEC on August 30, 2024, and available at www.sec.gov. The Company is under no obligation to update these statements for revisions or changes after the release date unless required by law.
Company Contacts:
Wenxi He
Chief Executive Officer
221 River Street, 9th Floor,
Hoboken, New Jersey
(201) 721-8789
Email: olivia.he@gmail.com
olivia@metalskystar.com
Source: Metal Sky Star Acquisition Corporation
FAQ
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