Mergers and Acquistions News
Categories: Telecoms
February 1st 2011, 17:02PM
MTS, the biggest mobile phone group in Russia, is in talks with several telecoms operators about a potential merger, the chief executive of Sistema, its parent company, has said.
"There are talks," Vladimir Yevtushenkov was quoted by Reuters as telling reporters yesterday (Monday January 31st), saying that MTS had ambitions to become one of the largest telecoms firms in the world.
Despite not naming possible companies, a source close to the situation has claimed that MTS is in the process of buying an 80 per cent stake in New Telephone Company, a Russian operator that operates predominantly in the east of the country – from KT Corp, a South Korean business.
And MTS chief executive Mikhail Shamolin has acknowledged interest in the majority stake, Reuters said.
If the deal goes through, MTS will be mimicking the activity of VimpelCom, which is attempting to buy Italian telecoms operator Wind from Egyptian magnate Naguib Sawiris.
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