Metal Sky Star Acquisition Corporation recently announced its entry into a letter of intent for a business combination with Fedilco Group Limited. The NASDAQ-listed company, known for its prominent telecom presence and commitment to innovation, expressed interest in acquiring all issued and outstanding shares of Fedilco, which holds an 80% equity interest in Viva Armenia Closed Joint-Stock Company.
Viva Armenia, the telecom entity under Fedilco, holds a significant position in the local market as evidenced by its 2.3 million unique subscribers, showcasing a 61% share by active subscribers and 58.18% by total revenue. The company’s 1,132 employees are dedicated to delivering extensive mobile services that connect subscribers both nationally and internationally. Additionally, Viva has fostered relationships with 529 operators across 192 countries, emphasizing its commitment to global connectivity.
Metal Sky Star Acquisition Corporation operates as a blank check company, seeking opportunities for mergers, acquisitions, or similar business combinations. Fedilco Group Limited, on the other hand, stands as a renowned player in the Cyprus telecom sector, holding a controlling interest in Viva, a leader in telecom innovation in Armenia.
In adopting a forward-looking perspective, Metal Sky Star’s press release acknowledges the inherent risks and uncertainties involved in such transactions, citing factors noted in their annual report filed with the SEC. The company asserts that statements made are subject to change according to legal requirements, emphasizing a commitment to transparency and compliance.
For further insights, interested individuals may refer to Metal Sky Star Acquisition Corporation’s official communication channels.
Source: Metal Sky Star Acquisition Corporation
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Metal Sky Star Acquisition’s 8K filing here.
About Metal Sky Star Acquisition
Metal Sky Star Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Hoboken, New Jersey.
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