Belarus Extends Offer of MTS Venture Stake After Failed Auctions

Belarus is extending its offer to sell a 51 percent stake in its joint venture with OAO Mobile TeleSystems (MTSS), Russia’s largest mobile-phone operator, for $1 billion after two failed auctions last year.

“There are more than a couple of potential buyers showing interest, but they begin to hesitate as soon as it comes to discussing the price,” Georgy Kuznetsov, chairman of the country’s State Property Committee, told reporters today in the capital, Minsk.

The authorities may offer a potential investor to pay $1 billion in several installments over a period of time instead of making a lump sum payment, Kuznetsov said.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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