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Trend, 7 August 2016

Uzbekistan’s Center of Radio Communication, Radio Broadcasting and Television state unitary enterprise, which is the co-founder of the Universal Mobile Systems (UMS) mobile operator, has announced the purchase of the share of Russian MTS company in the operator’s authorized capital.

The Center of Radio Communication, Radio Broadcasting and Television has purchased 50.01-percent share of MTS in the authorized capital of UMS, said the message from Uzbekistan’s state unitary enterprise.

The transaction cost hasn’t been specified by the company.

Uzbek Agency for Communication and Information revoked the license of Uzdunrobita, subsidiary of MTS in Uzbekistan in 2012. The operator was demanded to pay $600 million worth fine and a criminal case was initiated against the company’s management.

Uzdunrobita was declared bankrupt and its assets were transferred to Uzbektelecom.

UMS started to render services across Uzbekistan on Dec.1, 2014, after the government of Uzbekistan and MTS signed an amicable agreement in late July 2014.

The sides created a joint venture (JV) in which the Russian company got 50.1-percent share, while Uzbekistan’s state unitary enterprise had 49.99-percent share. The JV was operating with the infrastructure and equipment of Uzdunrobita.

The Center of Radio Communication, Radio Broadcasting and Television, which has become a full owner of UMS, said that the changes in the list of founders won’t affect the operation of UMS, the long-term development strategy, which is being successfully implemented by the company and this will have no impact on the clients.