Russian mobile major MTS makes a fast exit from Uzbekistan.
One of the three largest Russian mobile operators MTS pulled out of Uzbekistan by selling 50.01% of its subsidiary UMS (Universal Mobile Systems), the company said on August 5. MTS denied reports that the fast exit was due to an anti-corruption probe and money laundering investigation.
In 2016 another Russian mobile telecom major VimpelCom had to set aside $795mn for violating Dutch anti-graft laws and the US Foreign Practices Act for allegations of corruption and money laundering charges related to its operations in Uzbekistan.
VimpelCom, along MTS and Nordic TeliaSonera, allegedly bribed entities connected to Gulnara Karimova, the Uzbek president’s now disgraced eldest daughter, to win licences to operate in the mobile market, including 3G and 4G licences that generated more than $2.5bn in revenue.
MTS denies that selling 50.01% in UMS is related to the US-lead investigation and attributed it to “business reasons and other circumstances”.
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