Belarus’ communications ministry has invited 45 companies to attend a presentation on the planned auction of the state’s 51% stake in SOOO MTS for US$1bn. The business is a joint venture with MTS of Russia.
Invitations to the 2 November presentation…
Belarus’ communications ministry has invited 45 companies to attend a presentation on the planned auction of the state’s 51% stake in SOOO MTS for US$1bn. The business is a joint venture with MTS of Russia.
Invitations to the 2 November presentation were sent to major telecoms companies operating both inside and outside the CIS, a ministry spokesperson confirmed.
Earlier this month, the ministry confirmed it also plans to provide information on the auction at the Belarusian Investment Forum in mid November, however the auction date is yet to be determined. The stake will go to the highest bidder.
Russia’s largest mobile operator MTS, which holds the remaining 49% stake in the Minsk-based joint limited liability company, declined to comment on whether it planned to attend the presentation. MTS, which is listed in Moscow and New York, has previously expressed interest in talking full control of COOO MTS, but not at a cost of US$1bn.
The Republic of Belarus attempted to sell its stake in the joint venture last year, but called off the planned auction, which also had a starting price of US$1bn, in November, reportedly because it had not received any bids to participate.
Registered in 2002, COOO MTS claimed to have about five million subscribers as of 12 June, 2012. The operator posted revenues of US$86.6m for the second quarter, up 14% on the previous quarter. Its OIBDA margin was up 13% from the first quarter to US$40.3m (46.48%).
