MTS agrees fee for Comstar takeover

31 Jul 2009

According to a report in Russian daily Kommersant, Mobile TeleSystems (MTS) has agreed to pay USD1.28 billion for a controlling stake in Moscow-based fixed line carrier Comstar United TeleSystems. The transaction, which equates to USD5.98 per share, is scheduled to be completed between MTS and Sistema AFK, parent of both MTS and Comstar, on 5 August. As reported by CommsUpdate, MTS received approval for the deal from Russia’s antimonopoly authority on 19 June.