Moscow, Russian Federation – PJSC MTS (NYSE: MBT, MOEX: MTSS), the leading telecommunications provider in Russia, announced today that it has sold its 50.01% stake in the telecommunications operator Universal Mobile Systems (UMS) to the State Unitary Enterprise Centre of Radio Communication, Radio Broadcasting and Television of The Ministry of Development of Information Technologies and Communications of the Republic of Uzbekistan.
“Due to a variety of business reasons and other circumstances, MTS decided to sell its stake in the joint venture UMS LLC,” said MTS vice president, and director of the Foreign Subsidiaries business unit, Andrei Smelkov.
Due to the sale of its stake in UMS, MTS expects to record a write-off in respect of assets of approximately RUB 3 bln in Q3 2016. The precise amount of the write-off will be specified afterwards.
On September 23, 2014, MTS received 50.01% of the share capital of UMS at no cost. The remaining 49.99% of UMS was owned by the State Unitary Enterprise Centre of Radio Communication, Radio Broadcasting and Television of The Ministry of Development of Information Technologies and Communications of the Republic of Uzbekistan1. The mobile communications network began commercial operations on December 1, 2014.
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For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru
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