Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” or the “Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that it has become aware of a planned auction, set for July 1, 2013, of assets owned by Uzdunrobita, MTS's wholly owned subsidiary in Uzbekistan. MTS is committed to defending its rights to fully recover damages incurred as a result of an unprecedented attack against its business in Uzbekistan.
In the Company’s opinion, the claims of Uzbekistan authorities that resulted in the initiation of bankruptcy proceedings and the forthcoming auction sale of Uzdunrobita assets have no legal and factual basis. MTS reserves its rights to pursue all available legal options in Uzbekistan and internationally to defend its legal rights and investments and fully recover damages from any party involved in depriving MTS of its business and assets in Uzbekistan.
Previously, MTS filed a claim against the sovereign state of Uzbekistan in the International Center for Settlement of Investment Disputes (ICSID), part of the World Bank Group, in Washington, D.C. The claim was registered on November 15, 2012, and the case is currently pending.
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For further information, please contact in Moscow:
Joshua B. Tulgan
Director, Corporate Finance & Investor Relations
Mobile TeleSystems OJSC
Tel: +7 495 223 2025
Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/