On 31 July 2014, Mobile TeleSystems OJSC announced the signing of a settlement agreement with the Republic of Uzbekistan, which envisages that the operator will return to mobile communication market of Uzbekistan.

He said that it is planned that the sides will soon complete all necessary procedures within settlement agreement. He said that the sides will register a joint venture, which will render mobile communication services.

MTS representative said that the enterprise will receive radio frequencies, 2G/3G/LTE licenses, number capacities, communication channels and other permissions. He said that key agreements for business were signed.

Afterwards MTS will join the venture and receive 50.01% stake for free of charge. The operator’s activities will be financed due to loans, received from commercial banks of Uzbekistan, he said.

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.

It is planned to launch of mobile communication network of the operator by the end of 2014, MTS representative said.