Belarus has called of its latest attempt to sell its majority stake in MTS Belarus, a joint venture with Russian telco MTS.
The state property committee announced today that the tender process has been “declared invalid” due to a lack of bids.
The…
Belarus has called of its latest attempt to sell its majority stake in MTS Belarus, a joint venture with Russian telco MTS.
The state property committee announced today that the tender process has been “declared invalid” due to a lack of bids.
The committee has been trying to sell the state’s 51% stake in the Minsk-based telco since 2011. The latest sales process was launched last September with a US$1bn starting price, based on a 2010 market assessment.
The state refused to budge on price until December, when it lowered the starting price to US$863m. The deadline for bids was today and the selection process had been set to take place tomorrow.
MTS, Russia’s largest mobile operator, had previously said it would be interested in buying out the Belarusian state, but not for US$1bn.
