A PYMNTS Company

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

By  |  October 2, 2014

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

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.