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MTS exits Uzbekistan, sells UMS stake to state
2016-08-08 08:46:00| Telecompaper Headlines
(Telecompaper) Russian mobile operator MTS is exiting the Uzbekistan market and has sold its 50.01 percent stake in the mobile operator Universal Mobile Systems (UMS) to the government. The State Unitary Enterprise Centre of Radio Communication, Radio Broadcasting and Television of the Ministry of Development of ICT acquired the shares for an undisclosed sum. The state already held the other 50 percent of UMS. MTS said the dale is "due to a variety of business reasons and other circumstances", but did not provide further details. The company expects to record a write-off of the related assets of RUB 3 billion in Q3.
Tags: state
uzbekistan
sells
stake
Category:Telecommunications