MTS Uzbekistan nationalisation overturned

9 Nov 2012

The Tashkent appeal court has overturned a ruling to confiscate the assets of Russian-backed cellco MTS Uzbekistan, instructing the operator to pay USD600 million in fines for alleged tax evasion and embezzlement instead. The court also upheld the sentences of 2.5 years of corrective labour for four MTS managers. Commenting on the development, MTS chief executive Andrei Dubovskov said: ‘We are contented that the MTS arguments during the court processes were heard and partly satisfied.’ The cellco has maintained throughout that it is innocent of any wrongdoing.

Uzbekistan,Universal Mobile Systems (UMS),

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