15 April 2004 17:34
Russia - MTS increases stake in Omsk subsidiary to 91%
Russian mobile operator Mobile TeleSystems (MTS) has acquired, in line with its strategy of consolidating the
company's ownership in its subsidiaries, a further 7.5 percent stake in Mobilnye Sistemy Svyazi (MSS) for USDlr2.2
million from Sibirtelecom. In March 2000, MTS acquired a 51 percent controlling stake in MSS, followed by a series of
acquisitions amounting to an additional 32.5 percent by autumn 2001, thus increasing its share in MSS to 83.5 percent.
As a result of today's transaction, MTS' effective ownership in MSS increases to 91 percent. MSS provides its
GSM 900/1800 services under the MTS brand in the Omsk region (population 2.1 million), located in the Siberian part of
Russia. The company's subscriber base was approximately 240,750 users as of 31 March 2004.
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