Russian mobile operator MTS announced that it has acquired a controlling stake in the Russian-Uzbek joint venture Universal Mobile Systems LLC (UMS) and plans to aunch operations throughout the territory of Uzbekistan on 1 December, Telecompaper.com reports on Sept 29, 2014. In accordance with the terms of a Settlement Agreement between MTS and the Republic of Uzbekistan, a 50.01 percent stake in the equity of UMS was transferred to MTS. A state-owned enterprise established and managed by the State Committee for Communications, Development of Information Systems and Telecommunications Technologies of the Republic of Uzbekistan will retain the remaining 49.99 percent stake.

The assets, equipment and infrastructure, which were previously owned by Uzdunrobita FE LLC, a former subsidiary of MTS in Uzbekistan, were transferred to UMS. UMS has been granted 2G, 3G and LTE licenses and received frequencies, numbering capacity and other permits required for the launch of the operations. UMS has also received guaranties for the investment protection and return of investments in accordance with the laws of Uzbekistan. The parties intend to submit a joint application to discontinue their ongoing legal proceedings in the International Center for Settlement of Investment Disputes.