Belarus is ready to sell its stake in mobile company MTS Belarus for US$1bn, president Alexander Lukashenko was quoted saying in the state-owned press agency BelTA.
According to Lukshenko, Russian telco MTS, which holds 49% of MTS Belarus, is willing to…
Belarus is ready to sell its stake in mobile company MTS Belarus for US$1bn, president Alexander Lukashenko was quoted saying in the state-owned press agency BelTA.
According to Lukshenko, Russian telco MTS, which holds 49% of MTS Belarus, is willing to buy Belarus’ controlling shareholding.
He reportedly said that if MTS did not want to disburse US$1bn, Belarus would put its stake up for auction.
Dow Jones Newswire quoted an analyst at VTB Capital saying that the figure was at least 40% above the value at which the company would sell, even with a premium
Belarus is facing a rapid decline of foreign currency reserves and is attempting to avoid devaluation.
MTS was not immediately available for comments.
