We Were Wrong: A Public Apology and Retraction Regarding Coverage of MTS Armenia's Ownership

At DailyNews.am, our mission has always been to deliver truthful, balanced, and responsible journalism. However, in this instance, we must admit we failed to live up to those principles.

Two previously published investigative articles — titled "New owners of MTS Armenia: who are they?" and "Who is Konstantin Sokolov, who appears to be the new owner of MTS Armenia?" — have come under just scrutiny. After further internal review and the emergence of more accurate information, we now acknowledge that these materials were based on incomplete, speculative, and in several cases, incorrect information.

In particular, the coverage wrongly implied questionable behavior or hidden motives behind the business activities of Dr. Zhe Zhang and Mr. Konstantin Sokolov, and cast doubt over the legitimacy of companies such as Fedilco Group Limited and SIFT Capital Partners. We now understand that these implications were unfounded.

Contrary to the tone and content of our original publications, Dr. Zhang and Mr. Sokolov are respected professionals with backgrounds in international finance, telecommunications, and asset management. No criminal investigations have been initiated against them, and no credible evidence supports the suggestion that their activities were illegal or unethical. Their involvement in the acquisition of MTS Armenia was conducted in accordance with legal norms and business practices.

Furthermore, several assumptions made in our reporting — such as the alleged lack of transparency in ownership structures or connections to previous disputes — were either speculative or not backed by verifiable facts at the time of publication. It is now clear that these interpretations should not have been presented as investigative conclusions.

We sincerely apologize to Dr. Zhe Zhang, Mr. Konstantin Sokolov, and all affiliated organizations for the reputational harm, emotional distress, and professional damage our reporting may have caused. As a result of this acknowledgment, both articles have been formally retracted and removed from our website.

This situation has reminded us that freedom of the press also demands responsibility, accuracy, and fairness. We are taking internal measures to improve our editorial standards and fact-checking procedures to ensure this never happens again.

Our readers deserve better, and so do the people we report on.

We were wrong — and we are truly sorry.

— Editorial Team, DailyNews.am