Russia's MTS Buys Kyrgyz Bitel for $150M
A Reuters newswire article by Yelena Smirnova, via Yahoo! News, reports that:
Mobile TeleSystems, Russia's leading mobile phone company, said on Monday it had taken over Kyrgyzstan's biggest mobile operator Bitel in a deal worth $150 million.
MTS, controlled by services group Sistema (SSAq.L), bought 51 percent of Bitel from Kazakhstan's Alliance Capital, plus an option to acquire the remainder by the end of 2006.
The acquisition extends the reach of MTS into other countries of the former Soviet Union, where a smaller share of the population has a mobile phone compared with Russia's large but rapidly maturing market.
posted by Fergie @ 12/12/2005 09:06:00 AM
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