Leading Russian mobile operator leaves troubled Uzbek market

Major Russian mobile operator Mobile TeleSystems (MTS) has abandoned its stake in a lucrative joint venture in corruption-prone Uzbekistan, the Central Asian country’s communications ministry said late on Friday.

The ministry’s announcement, which the company also confirmed Friday, said the state-owned Center of Radio Communication, Broadcasting and Television had become “sole owner” of the pair’s joint venture after MTS sold off its 50.01 percent stake.

Neither MTS nor its erstwhile partner in Uzbekistan mentioned the size of the transaction, which comes amid an extended probe by Western investigators into corruption in the republic’s telecommunications sector.

Source :Guardian News