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Mobile TeleSystems OAO agrees on renewing operations in Uzbekistan, to create JV with government-Interfax

Thursday, 31 Jul 2014 10:02pm EDT 

Mobile TeleSystems OAO:Mobile TeleSystems OAO (MTS) has agreed with Uzbekistan on renewing operations in this country-Interfax.MTS signed an amicable settlement with Uzbekistan that envisions the creation of a joint venture (JV).In this JV MTS will receive 50.01 pct, while the remaining 49.99 pct will go to a state unitary enterprise under Uzbekistan's Committee on Information and Communication technologies (ICT).The JV will receive the property, equipment and infrastructure that previously belonged to MTS subsidiary Uzdunrobita, MTS said.The parties agreed to complete all procedures for the agreement soon, and a cellular network is set to be launched by the end of 2014. 

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