Comstar ups stake in MGTS

21 Feb 2006

Russian telecoms group Comstar has paid around 1.65 billion (EUR49 million) for a further 4.21% stake in Moscow City Telephone Network (MGTS) as part of its public share offer to MGTS shareholders. The company was obliged to make the offer after its recent purchase of a 55.62% holding in MGTS. Following the latest transaction, Comstar says it controls 59.83% of MGTS’ shares.