Interfax with reference to the MTS CEO Andrey Dubrovsky reports that in the third quarter of 2017 MTS incurred losses in the amount of 1,1 billion Rubles (about $18,5 mln) due to curtailing of its operations in Turkmenistan.
Dubrovsky stated that the company had partially reserved the funds in the amount of 1,1 billion Rubles. This amount might be reviewed in the future if MTS leaves Turkmenistan for good.
This amount equals 50% of MTS asset value in Turkmenistan.
Let us recall that the cellular operator “MTS-Turkmenistan” ceased its operations in late September. Turkmenistan refused to extend the frequency use license. At the closure, the communications provider had 1.7 million subscribers.