MTS to buy SMARTS?

4 Jun 2008

Mobile TeleSystems (MTS), Russia’s largest cellco by subscribers, is close to completing negotiations over the acquisition of smaller rival SMARTS Group. The deal, which is valued at more than USD1 billion, could be announced as early as next month, CNews reports. Neither SMARTS nor MTS has confirmed the report. SMARTS’ owners are known to be looking to sell up and say that they will float around 20% of the company in 2009 if a buyer is not found this year.

Russia, Mobile TeleSystems (MTS), SMARTS Group