MTS does not lose hope for Belarus

JSC Mobile TeleSystems continues negotiations on repayment of the state share in Belarusian "daughter" of MTS, but does not intend to buy an asset at inflated price


JSC Mobile TeleSystems continues negotiations on repayment of the state share (51%) in Belarusian "daughter" of MTS, but does not intend to buy an asset at inflated price. The management of the company hinted that can have impact on appeal of an asset in the market.

It last Friday at the St. Petersburg International Economic Forum (SPIEF) was declared by the president of MTS group Andrey Dubovskov.

"In Belarus there is a bargaining at the price: we do not accept their price though it and is lower than 1 bln. dollars, and they do not accept our offer", – the top manager characterized a situation.

As earlier it was reported, in February of this year the authorities of Belarus refused the transaction with MTS which suggested to redeem 51% of shares of SOOO "MTS" for 450-500 mln. dollars – the price offered by Russians considered underestimated.

Thus, any company did not submit an application to the State Property Committee (SPC) of Belarus for participation in competitive selection of investors for purchase of a state share in this asset, and competition was recognized as the cancelled.

Andrey Dubovskov noted that initially, in 2011, the authorities intended to receive 1 bln. dollars for a state share in SOOO "Mobile TeleSystems", but then in the company learned that the state employed the independent appraiser who estimated an asset at 863 mln. dollars.

"However and this price is too high. We are ready to buy this asset not above the animator on whom ADR of the Belarusian MTS bargain", – Andrey Dubovskov explained. – Now they bargain on 3-4 EBITDA that is taken as a share assessment basis. We cannot wash away an investment of our shareholders, buying an asset is dearer than the market".

Do not open value of an indicator of EBITDA in MTS, and the indicator of OIBDA of the Belarusian asset following the results of 2013 made about 235,2 mln. dollars at an average annual course.

Dubovskov also emphasized that the position of the Belarusian authorities is clear to them, but partners should understand that MTS can influence the cost of an asset both in positive, and in a negative side.

"Nevertheless, we are exclusively happy with business in Belarus. There a transparent regulyatorika, all reached agreements are carried out, and the state responsibly works with investors", – the head of MTS summarized.

Terms of sale of a state share in SOOO "MTS" – services of mobile telecommunication it is not lower than a level of preservation of percent of coverage of the territory of the country, recorded in the state statistical reporting for the last reporting period preceding the conclusion of the contract of purchase and sale.

Sale being in republican property and economic maintaining the republican unitary enterprise "Beltelekom" of a share in an authorized capital of SOOO "MTS" is carried out according to the decision of the president of Belarus Alexander Lukashenko.



Darya Lyuttsau
ComNews.ru
 No. of 26.05.14