Transforming Network Infrastructure Industry News

TMCNet:  MTS and Uzbekistan sign settlement agreement [UzDaily (Uzbekistan)]

[July 31, 2014]

MTS and Uzbekistan sign settlement agreement [UzDaily (Uzbekistan)]

(UzDaily (Uzbekistan) Via Acquire Media NewsEdge) Tashkent, Uzbekistan (UzDaily.com) -- Mobile TeleSystems OJSC, the leading telecommunications provider in Russia and the CIS, announces the signing of a settlement agreement with the Republic of Uzbekistan.

According to the terms of the agreement the Company intends to resume operations in Uzbekistan through a joint venture with the government of Uzbekistan, MTS said in a statement.

The signed agreement provides for establishment of a joint venture with MTS holding a 50.01% in the charter capital of the Operator while the remaining 49.99% will belong to a state-owned unitary enterprise established and managed by the State committee for communications, development of information systems and telecommunications technologies of the Republic of Uzbekistan. The Joint venture will operate on the basis of assets, equipment and infrastructure, which were previously owned by Uzdunrobita FE LLC, a former subsidiary of MTS in Uzbekistan, and which will be transferred to this newly established joint venture.

The parties intend to finalize all procedures stipulated in the Settlement agreement, and to ensure commercial launch of the Operator`s mobile network by the end of 2014.

According to the Settlement agreement, the authorities of the Republic of Uzbekistan will grant the new operator 2G, 3G and LTE licenses, provide necessary frequencies and numbering capacity, ensure lease agreements for communication channels and issue all permissions required for the joint venture to operate and offer full telecommunications services throughout Uzbekistan.

Within the scope of fulfillment of the terms and conditions set out in Settlement agreement and transfer of a stake in the Operator to MTS the parties will submit a joint application to discontinue ongoing legal proceedings in the International Center for Settlement of Investment Disputes, Member of the World Bank Group (ICSID).

The Settlement agreement is governed by English law and provides for resolution of any disputes arising out of the Settlement agreement in the International Court of Arbitration under International Chamber of Commerce in Paris (ICC).

(c) 2014 UzDaily.com. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

[ Back To Transforming Network Infrastructure's Homepage ]




Featured Blog Entries

Reflections from an Interop Veteran and Alum

When I returned to the Fiber Mountain™ offices in Connecticut after exhibiting at Interop Las Vegas 2015, I couldn’t help but think about how much the event has evolved through the years. I have been attending this seminal IT and networking conference since its inception in 1986 when it was called the TCP/IP Vendor Workshop, focused on interoperability of various TCP/IP program stacks.

What Fiber Mountain's Interop Recognition Means for Our Industry

When Fiber Mountain™ began its journey with a launch at Interop New York last fall, we certainly believed that we had a solution that would make a significant impact in the data center space.

What On-Board Optics Means for Density and Flexibility

This past week I read an article in Lightwave Magazine and another in Network World about the formation of the Consortium for On-board Optics (COBO), a group that seeks to create specifications and increase the faceplate density of data center switches and adapters.

Scaling Hyperscale in an Age of Exponential Growth and Virtualization

Over the past several years server, network, storage and application virtualization has revolutionized the way hyperscale data centers are built by consolidating workloads. The trend has simplified network architecture significantly and resulted in huge cost savings as well.

Video Showcase