MTS Enters Fixed Broadband and Cable TV Markets in Tula
OREANDA-NEWS. August 26, 2011. Mobile TeleSystems OJSC (“MTS” or the “Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that the MTS Group acquired a 100% stake in each of the four companies operating under the Altair brand (“Altair”), the largest cable TV provider and leading broadband provider in Tula, the administrative center of the Tula region of the Central Federal District, from a group of private investors. The acquisition will enable MTS to become the leading provider of broadband internet and cable television services in
The purchase price was RUB 680 million (or approximately USD 23.2 million ).The price includes assumption of Altair’s net debt.
Altair is the largest cable TV provider in
“Today, the MTS Group provides fixed-line services in over 120 cities in
Altair’s financial results will be consolidated in MTS’ financial statements beginning from August 22, 2011.
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