MTS takes sole control of UMC

3 Mar 2003

Netherlands-based KPN has closed the sale of its 16.33% stake in Ukrainian Mobile Communications (UMC) to leading Russian cellco Mobile TeleSystems (MTS). The formalities of the USD55 million deal are expected to have been completed by the end of March. Similar transactions have been undertaken by MTS’ other shareholders – Deutsche Telekom (16.33%), TDC (16.33%) and Ukrtelecom (51%) – leaving MTS with sole control of UMC.