Uzbek authorities arrest MTS assets

The Uzbek authorities have begun seizing the assets of the Russian
telecommunications company Mobile TeleSystems (MTS) in the country in
the latest move in a tax dispute, Market Watch reports.

MTS's licenses have been suspended this week in the country. The
Uzbek authorities accused the company of operating illegally and not
paying taxes, leading to the company writing off about $1.1 billion in
the second quarter. Some of the management of the wholly-owned MTS
subsidiary have been arrested and went on trial this week.

Market Watch quotes MTS' representative saying that "all accusations
faced by the company as baseless, investigations and court proceeding
happening as a breach to the existing international and legal norms
and human rights."