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Sistema Hopes to Resolve MTS Licensing Dispute In Uzbekistan Early 2013-Report

Date : 12/24/2012 @ 2:13PM
Source : Dow Jones News
Stock : Mobile Telesystems Ojsc (MBT)
Quote : 9.97  0.0 (0.00%) @ 5:50PM
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Sistema Hopes to Resolve MTS Licensing Dispute In Uzbekistan Early 2013-Report

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MOSCOW--Russian conglomerate AFK Sistema (AFKS.RS) hopes that the licensing dispute around its Mobile TeleSystems (MBT) unit in Uzbekistan will be resolved in early 2013, Sistema Chairman Vladimir Yevtushenkov told reporters in New Delhi, Interfax reported Monday.

"A regular negotiations process is going on which, it looks like, may spread into the beginning of next year," Mr. Yevtushenkov said.

"You cannot enter the same river twice. Most likely the conditions will not be the same, but how it will be in reality it is hard to say," he told reporters.

In July the wholly-owned subsidiary of MTS, Uzdunrobita, had its license withdrawn initally for for 10 days and then permanently due to "repeated and systematic major violations," with the way their cellular network was designed and "noncompliance with the instructions of the controlling body," the Uzbek telecommunications agency said then.

Write to Olga Razumovskaya olga.razumovskaya@dowjones.com

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