Moscow Times 4 JUne 2013
The bankrupt Uzbek branch of Russian mobile operator MTS will be sold at an auction in July, following a decision taken by the company’s creditors, a news report said Tuesday.
Uzdundrobit, which was declared bankrupt in April, will be auctioned on July 1 at a starting price of $289 million. Bids will be accepted up until June 29, Interfax reported.
Industry regulators initiated an inspection of the company and a case was opened against its managers for operating without a license and avoiding paying taxes in June 2012.
In September 2012, four of Uzdundrobit’s managers were sentenced to various prison terms and ordered to pay fines by the court.
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Uzbek Subsidiary of MTS to Be Sold at Auction
