Sistema to sell MTT; Comstar unit reports broadband growth

29 Apr 2008

The board of Russia’s Sistema group has approved the sale of its stake in long-distance operator Multiregional TransitTelecom (MTT), according to Dow Jones which cites a report from local newspaper Vedemosti. Sistema holds a 50% stake in MTT along with Gamma Capital and is selling to another Russian wireline operator, Synterra, for just under USD400 million, Vedemosti claims.

Meanwhile, another Sistema wireline subsidiary, Comstar UTS, has reported a 14% increase in broadband internet connections in the first quarter, with the firm claiming 848,000 high speed internet customers, up from 743,000 at the end of 2007. Almost 800,000 of its broadband subscribers are in the Moscow area. The firm is hoping to have a million ADSL customers in the Russian capital by the end of this year.