MTS can sell its stake in UMS

TECH 02 July 2016 451

Russia’s MTS can sell its stake in the Uzbek mobile operator Mobile Systems (UMS), the Russian media reported quoting the source, close to the operator.
Interfax agency said that the Russian company can sell its 50.01% stake for symbolic price.

The source said that there is a basic scenery, in line with which the company will continue work in Uzbekistan. In line with negative scenery, the company will leave the Uzbek market. The source added that theoretically the Uzbek assets can be sold, but no decision was adopted. MTS noted that its operator UMS is working in ordinary regime in Uzbekistan.

UMS press service said that the operator continues work in ordinary regime and nothing will change for subscribers.

As reported earlier, UMS started to render mobile communication services across Uzbekistan from 1 December 2014.

MTS (50.01%) and Center for Radio Communication, Broadcasting and Television (CRBT) (49.9%) are founders of the venture.

The joint venture will operate on the basis of assets, equipment and infrastructure, which were previously owned by Uzdunrobita FE LLC, a former subsidiary of MTS in Uzbekistan, and which will be transferred to this newly established joint venture.

According to MTS, Universal Mobile Systems LLC received 2G/3G/LTE licenses, a frequency range, a numbering capacity and other permits for operation, as well as investment guarantees under Uzbek legislation.

MTS Uzbekistan worked in Uzbekistan till the summer 2012. In 2012, Uzbek Communication Agency suspended its licenses and later the court abolished its licenses.

Source:  Uzdaily.com

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