MTS may file for bankruptcy in Uzbekistan

16 Jan 2013

Russian-backed cellco MTS Uzbekistan has begun bankruptcy proceedings and has started to lay off employees, reports Reuters. Uzbekistan authorities stripped the cellco of its licence in June 2012, accusing the company of tax evasion and money laundering as well as a host of other infractions. As previously reported by CommsUpdate, Tashkent courts ordered the seizure of the company’s assets in September, apparently confirming suspicions that the affair was an orchestrated effort to take control of the cellco. Two months later, however, the decision to nationalise the provider was overturned and replaced with a USD600 million fine. Earlier this year it seemed that the company would relaunch, with parent company Mobile TeleSystems (MTS) announcing that it had begun negotiations with the Uzbek authorities.

Uzbekistan,Universal Mobile Systems (UMS),

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share