September 17, 2012 / 2:22 PM / 5 years ago

MTS says Uzbek unit assets confiscated by court

MOSCOW, Sept 17 (Reuters) - Russia’s top mobile phone operator MTS said on Monday that the Tashkent Criminal Court ordered the confiscation of all assets owned by its Uzbek subsidiary Uzdunrobita.

MTS, part of oil-to-telecoms conglomerate Sistema , also said in a statement it disagreed with the sentence on its four local managers, without providing details.

Contacted by Reuters, the Tashkent Criminal Court confirmed it had finalised the case of Uzdunrobita but declined to give any details.

MTS last month took a $1.1 billion write-off in connection with the withdrawal of its Uzbek operating licence and said the local authorities had initiated enforcement proceedings to seize wholly owned subsidiary Uzdunrobita’s assets.

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