MTS casts eye towards K-Telecom

21 Aug 2007

Russian mobile operator Mobile TeleSystems (MTS) is said to be in talks to acquire Armenia’s K-Telecom, Reuters reports citing a statement from MTS’s owner in the Vedomosti business daily. The paper quotes Alexander Goncharuk, president of Sistema Holding, as saying that due diligence is taking place and the deal has not yet been closed. The Armenian cellco, controlled by the Lebanese Fattouch Group, launched services in 2005 and currently is the country’s leading mobile operator with over a million subscribers. Vedomosti says sector analysts value K-Telecom at up to USD600 million.

Armenia, Karabakh Telecom, Mobile TeleSystems (MTS)