MTS cleared for Comstar UTS acquisition

19 Jun 2009

Russia’s leading mobile operator Mobile TeleSystems (MTS) has received clearance from Russia’s antimonopoly authority to buy out Moscow-based fixed line operator Comstar United TeleSystems. The deal will merge the telecoms operations of AFK Sistema and allow MTS to capitalise on demand for broadband in regional cities. MTS received permission to buy out all of Comstar’s shares but chief executive Mikhail Shamolin has said that the cellco may decide against buying 100% of the company.