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Central Asia news

MTS owns 100% of Uzdunrobita

29.06.2007 13:43 msk

Vedomosti

Business Uzbekistan

With the remaining 26% finally in its hands, MTS is now the sole owner of Uzdunrobita. The 26% cost MTS $250, more the double the price it had paid for 74% three years ago. Insiders refuse to say who "the private investor" was that sold the Russian company the last 26%.

MTS became an Uzdunrobita shareholder in August 2004 when it paid $121 million for 74% of the company. A special agreement was signed with the rest of the shareholders securing its first-buyer rights for the remaining 26%. MTS President Leonid Melamed was quoted as saying a short while ago that "three years of partnership with the local owners made MTS the leader in the market." Complete control over the Uzbek company licensed as the nationwide cell communications operator with the right to render services of 3rd generation communications will allow for "the full use of the potential of the local market." MTS PR Director Yelena Kokhanovskaya claims that this is one of the five largest markets in all of the Commonwealth.

Igor Tsukanov

Vedomosti, June 29, 2007, p. B6

© Translated by Ferghana.Ru