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MTS agrees to pay USD 850 mln to settle Uzbekistan bribery charges

2019-03-07 09:36:00| Telecompaper Headlines

(Telecompaper) Russian operator MTS has agreed to pay USD 850 million to settle a case brought by the US over alleged bribery in obtaining licences for MTS Uzbekistan. MTS set aside a provision for the payment already in Q3 2018 and also agreed with the US Department of Justice and SEC to improve its internal controls and compliance checks to prevent future corruption.

Tags: pay usd charges agrees

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

MTS quits Uzbekistan

2016-08-08 02:00:00| Total Telecom industry news

Russia-based telco sells 50% stake in UMS back to government.

Tags: uzbekistan mts quits mts uzbekistan

MTS to exit Uzbekistan, sell assets to state - report

2016-08-05 16:02:00| Telecompaper Headlines

(Telecompaper) Russian mobile operator MTS plans to sell its stake in the Uzbekistan mobile operator UMS, a joint venture with the Uzbekistan government. The Russian operator will sell its 50.01 percent stake in UMS for a "symbolic price", claims Interfax citing a source in the Uzbekistan State Communications Committee.

Tags: state report sell assets