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Mobile TeleSystems (MTS) - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Mobile TeleSystems OJSC (MTS) and its subsidiaries is one of the leading providers of mobile telecommunications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan in terms of the number of subscribers and revenues. The Group provides a wide range of voice and data mobile telecommunications services to both consumers and corporate customers. The Group’s mobile services are currently offered over GSM networks. In July 2006, Ukrainian Mobile Communications (UMC), MTS' subsidiary in Ukraine, acquired a 3G CDMA 450 licence. In April 2007, MTS was granted a 3G UMTS licence in Russia and its subsidiary in Uzbekistan was awarded a 3G licence and a nationwide WiMAX licence. MTS was created on March 1, 2000, through the merger of MTS CJSC and RTC CJSC, a wholly-owned subsidiary. MTS CJSC started its operations in the Moscow licence area in 1994 and began expanding into nearby regions in 1997. Since that time, MTS has continued to grow by applying for GSM licences in new regions and acquiring existing GSM licence holders and operators. MTS completed its initial public offering (IPO) in 2000 and listed its shares of common stock, represented by American Depositary Shares (ADSs), on the New York Stock Exchange. As of May 31, 2007, Sistema Holding Ltd (the largest private sector consumer services company in Russia and the CIS) and subsidiaries owned 53.1% of MTS.
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