Companies / Russia
MTS Buys Bashcell
December 2007 | Company Finance AlertMobile TeleSystems (MTS) has acquired 100% of Bashcell, a mobile network operator serving the Volga region of Russia. MTS purchased Bashcell from Bashneft and local private investors for a consideration of US$38mn, including the assumption of US$32mn in debt. The company posted annual revenues of US$11mn in 2006 and US$8mn in the first half of 2007.
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