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Government has no urgent need to sell mobile phone network MTS, minister says

The Belarusian government has no urgent need to sell its majority stake in mobile phone network Mobile TeleSystems (MTS), Communications Minister Mikalay Pantsyaley told reporters in Minsk on April 25.

Keeping the stake is advantageous for the Belarusian state, he said. "The company has had a successful performance. I think no other investments by Beltelecom would yield such a result as its involvement in MTS," the minister stressed, referring to the state telecommunications monopoly, which is the formal owner of the 51-percent stake.

Mr. Pantsyaley added that the government was still ready to consider selling the stake. "If there's a worthy investor, if a specific interesting offer is made to the state, it will be considered. But there's no critical situation on this subject," he said. The government failed to auction off its stake in MTS at the end of last year. The auction was cancelled because the bidders had reportedly offered too little for the stake.

Alyaksandr Lukashenka announced in March 2011 that he was ready to sell the stake in MTS to Russia's Mobile TeleSystems, which owns the other 49 percent, for $1 billion. "We don't mind, but they should put $1 billion on the table," he said. "A valuation has been made. If they want, they are welcome, if they don't, we'll put it up for auction."

Launched in June 2002, MTS is said to be the largest mobile phone network in Belarus. //BelaPAN