MTS continues relentless expansion

21 Mar 2006

The president of Russia’s biggest cellco Mobile TeleSystems (MTS) yesterday laid out plans to invest between USD7 billion and USD10 billion in foreign acquisitions in the next three to four years. Vasily Sidorov said that the purchases should allow MTS to break into the list of the world’s ten largest cellular groups by 2010. The majority of acquisitions are expected in 2006-2008. Sidorov said: ‘We are mostly interested in Maghreb, the Middle East, Southeast Asia, Hindustan, and Southern and Southeast Europe…We have to almost double our capitalisation and subscriber base. We need to have over 100 million subscribers and have licences covering territories where 500 million people reside.’ In 2006-2007, MTS plans to complete acquisitions in CIS countries before focusing on other markets.

Russia, Mobile TeleSystems (MTS)