Intra-corporate reshuffle raises MTS ownership in MGTS to 99.1%

4 Jul 2016

Russian cellco Mobile TeleSystems (MTS) has taken a 94.6% direct stake in its Moscow fixed network operating subsidiary MGTS, up from the 70.3% it directly held previously, whilst including indirect shareholdings, MTS’ ownership in MGTS now stands at 99.1%. The restructuring was a result of an intra-group restructuring implemented by MTS’ parent Sistema, involving a merger with the Sistema-Inventure holding which previously owned 24.3% of MGTS.

Russia, Mobile TeleSystems (MTS), Moscow City Telephone Network (MGTS), Sistema