BMI View: While potential remains across a number of the markets in Central Asia, events in Uzbekistan highlight the significant downside risks that persist in the region, ultimately stunting investment. High levels of political risk have forced MTS out of Uzbekistan, and, with bribery claims surrounding TeliaSonera’s acquisition of a 3G licence, the operator is rumoured to be exiting the region. Government intervention in Central Asia is pervasive, with many operators owned by the state and a lack of independent regulators and transparency. With the opportunity for a new player to enter the Uzbekistan market, it will be interesting to …
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