SMARTS shelves capital increase at suitor’s request

6 May 2005

Plans for a RUB1.2 billion (USD43 million) capital stock increase by Russian cellco SMARTS have been delayed indefinitely, according to reports in the local press. It is thought that the delay is at the request of a consortium of unnamed potential investors who intend to purchase a 25% stake in the company later this year. Whilst SMARTS will not disclose the identity of the buyers, names in the frame include rivals Mobile TeleSystems (MTS), Vimpelcom, MegaFon and Tele2.

Russia, SMARTS Group