Russia MTS mobile giant buys 100% in Dutch Mobile TeleSystems

MOSCOW, September 1 (RIA Novosti) – Mobile TeleSystems (RTS: MTSS) has acquired 100% in the Dutch-based Mobile TeleSystems, Russia’s No.1 mobile operator said Friday.

The details of the deal, which was concluded Thursday, were not made available.

MTS, which posted a net profit of $529 million in the first half of 2006, also bought shares in Bermuda-based Mobile TeleSystems Bermuda Limited Wednesday, but no details were disclosed in that deal either.

MTS, whose shares are traded on the New York Stock Exchange and on off-exchange markets in Europe, holds operating licenses in 87 regions in Russia, as well as in Belarus, Uzbekistan, Turkmenistan and Ukraine.

AFK Sistema (RTS: AFKS), one of Russia’s largest diversified corporations, owns a 52.8% share of the company.

Source- http://en.rian.ru

Technorati : MTS, Mobile, Russia
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