08.07.2013
Belarus to re-offer state share in MTS for $1bn in 2014
MINSK, 8 July (BelTA) – Belarus intends to offer the state share in the mobile company SOOO MTS for $1 billion once again in 2014. The information was released by Chairman of the State Property Committee Georgy Kuznetsov at the roundtable session held on 8 July to discuss the state and prospects of privatization processes in Belarus. The session involved ambassadors, BelTA has learned.
The official said that the state share in MTS has been available for purchase for nearly four years already. The search for the buyer of the state share in the authorized fund of the Belarusian mobile company SOOO Mobile TeleSystems (MTS) has been incessant. “All these years investors have been talking about the high price for the share - $1 billion,” stated Georgy Kuznetsov. “In good years when the company worked well, we estimated our share at $1 billion and we have not reduced the price since. During the crisis it was said that our share probably cost $700 million. But now the company’s earnings are on the rise and therefore waiting to sell it may be advised. I think it will cost $1 billion once again in a year”. The Chairman of the State Property Committee said it is possible that next year the state share in MTS will be once again on offer for $1 billion.
The official remarked that proposals to buy out the share for $750 million are already available.
The official said that the state share in MTS has been available for purchase for nearly four years already. The search for the buyer of the state share in the authorized fund of the Belarusian mobile company SOOO Mobile TeleSystems (MTS) has been incessant. “All these years investors have been talking about the high price for the share - $1 billion,” stated Georgy Kuznetsov. “In good years when the company worked well, we estimated our share at $1 billion and we have not reduced the price since. During the crisis it was said that our share probably cost $700 million. But now the company’s earnings are on the rise and therefore waiting to sell it may be advised. I think it will cost $1 billion once again in a year”. The Chairman of the State Property Committee said it is possible that next year the state share in MTS will be once again on offer for $1 billion.
The official remarked that proposals to buy out the share for $750 million are already available.