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Russia: MTS continues M&A plans as owner remains under house arrest

 |  October 2, 2014

Even as the owner of wireless operator Mobile TeleSystems remains under house arrest, the company continues its M&A strategy.

According to reports, MTS is considering an acquisition of handset retailer Svyaznoy, assets that could be worth up to $400 million. MTS CEO Andrei Dubovskov said that the company has filed for antitrust approval of the deal, though the company’s board of directors has yet to vote on the transaction.

Plans of a takeover come as MTS owner, billionaire Vladimir Evtushenkov, remains under house arrest for alleged illegal conduct regarding the acquisition of shares of oil giant OAO Bashneft. Dubovskov said that these developments are not affecting MTS operations.

Full content: Bloomberg

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