MTS spends USD78.6m in share buyback; MGTS acquiring Balashikha operator

10 Mar 2017

Russia’s Mobile TeleSystems (MTS) disclosed the final details of a share buyback exercise which it completed in February. The group bought 16.022 million of its own shares costing a total of RUB4.65 billion (USD78.6 million) at RUB290 per share.

MTS’ Moscow fibre triple-play network operating division MGTS, meanwhile, is aiming to acquire smaller operator Balashikha Multi-Cable Networks (BMCN), which serves Balashikha, a city in Moscow Region (Moscow Oblast) with a population of over 200,000, situated around 1km east of the Moscow Ring Road. According to Comnews, MGTS plans to close the deal in the first half of this year. The move forms part of MGTS’ current strategy to expand from its core base of metropolitan Moscow and into more towns/cities in Moscow Oblast. MGTS also bundles MVNO mobile services over the MTS network to offer its customers a quadruple-play range of high speed fibre broadband, fixed telephony, IPTV and cellular voice/data.

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