Bloomberg News

MTS Retreats as Russia Says It’s ‘Concerned’ After Uzbek Arrests

July 25, 2012

OAO Mobile TeleSystems dropped to the lowest level in two weeks as Russia’s Foreign Ministry said it is “concerned” after company officials were arrested in Uzbekistan at the end of June.

MTS shares lost 0.8 percent to 223.81 rubles by the close in Moscow, the lowest since July 12.

Russia has made Uzbekistan “officially aware” of its concern, according to the statement on the Foreign Ministry’s website. The wife of the arrested head of MTS’s Uzbek unit has written a letter to Russian President Vladimir Putin, the statement said.

Uzbek authorities froze the license of MTS’s local unit for 10 days on July 17, citing violations and tax claims.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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