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Belarus Still Confident of Selling 51% Stake in Local Mobile Network

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The Belarus government is still looking to raise US$800 900 million from the sale of its 51% stake in MTS Belarus, despite years of failing to raise a similar amount from previous sales.

The Belarusian Deputy Economy Minister Alexander Yaroshenko said that a sale at that amount would cover around half of the deficit of Belarus' balance of payments in 2014.

It would seem that the government is insisting on setting the price based on its own needs to raise funds rather than the value the company can realistically expect to be worth.

The other half of the mobile network is owned by Russia's MTS -- which has previously indicated an interest in buying out the stake, but at a far lower valuation.

The official said that in view of the complicated economic time it was impossible to sell the company for a song and therefore the sale process has been protracted. "But $800-900 million is the sum that can cover half of the balance of payments," said Alexander Yaroshenko.

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Tags: mts  Belarus