Technology Industry
Industry: Email Alert RSS FeedMTS plans to acquire K-Telecom.(RUSSIA)(Mobile TeleSystems OJSC)(Brief article)
European Telecom, September, 2007
Russia-based mobile operator Mobile TeleSystems is holding talks for buying K-Telecom, the largest cellular network provider in Armenia. However, sources said that a final decision is unlikely to be taken anytime soon. A spokesman of Russian conglomerate Sistema, which owns a dominant stake in MTS, said that MTS is not averse to acquiring mobile assets in ex-Soviet states.
Analysts estimate that the value of K-Telecom is likely to reach $600 million. K-Telecom has more than 1 million users. Russian mobile firms are very keen to expand into former Soviet regions, as mobile penetration in these areas is quite low.
The cellular penetration rate in Armenia is 50 percent, while in Russia the rate exceeds 110 percent. The population of Armenia is around 3.2 million.
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