Russia’s MTS–Uzbek state firm JV to double subscriber base by 2016

TASHKENT, Aug 19 (PRIME) -- Universal Mobile Systems (UMS), a joint venture of Russian mobile operator MTS and an Uzbek state firm, will raise its subscriber base to 1.15 million users by the end of 2015 from 643,100 users as of June 30, the joint venture’s press office said Wednesday.

UMS serviced 188,100 users as of the end of 2014, and its market share rose to 3% from 1% as of the end of last year. The company’s revenue doubled in April–June to U.S. $14.5 million, and the operator showed a net profit of $10.8 million in the reported period as compared to a net loss of $16.2 million in January–March.

The joint venture started working in 2014, after the partners had concluded an amicable agreement after a lengthy argument. MTS owns 50.01% in UMS and the Uzbek state unitary enterprise owns the remaining 49.99%.

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