MTS buys Uzdunrobita stake

3 Aug 2004

Russian cellular giant Mobile TeleSystems (MTS) has finalised a deal to buy a 74% stake in Uzbekistan’s largest wireless operator Uzdunrobita for EUR121 million. MTS has also signed an option to buy the remaining 26% for USD37.7 million within three years. Uzdunrobita, which was formerly owned by the daughter of authoritarian Uzbek President Islam Karimov, claimed 210,350 subscribers at 30 June 2004, of which 177,490 were connected to its GSM network and the remainder to its AMPS/D-AMPS system