MTS completes Comstar acquisition

14 Oct 2009

Russia’s leading mobile operator by subscribers Mobile TeleSystems (MTS) has announced that it has successfully completed the acquisition of a 50.9% stake in fixed line operator Comstar United TeleSystems from media conglomerate Sistema AFK. MTS, which itself is 52.8% owned by Sistema, paid RUB39.15 billion (USD1.32 billion) for the stake. The company hopes that by integrating its mobile operations with the Moscow-based Comstar’s fixed line infrastructure it will increase its access to the country’s underdeveloped broadband sector.