MTS ups stake in Siberian GSM operator

25 Nov 2003

As part of a wider strategy to consolidate its interest in minority shareholdings, Russia’s Mobile TeleSystems (MTS) has acquired an additional 30% of Siberian Cellular Systems-900 (SCS-900) to up its ownership to 81%. MTS bought a 51% interest in SCS-900 in August 2001 through its wholly owned subsidiary Telecom 900 and by mid-November the Siberian cellco had approximately 422,000 subscribers. MTS paid USD28.6 million for the 30% stake from OJSC Sibirtelecom.