In line with its strategy of consolidating the Company’s ownership in the subsidiaries, MTS has acquired the remaining 24% stake in Gorizont RT for $13.47 million. In November 2004 MTS acquired a 76% controlling stake in the company after winning a government privatization tender. As a result of today’s transaction, MTS’ ownership in Gorizont RT increases to 100%.

Gorizont RT is the sole mobile services provider in the Republic of Sakha (Yakutia), a region in the Russian Far East with a population of 949.3 thousand. The company’s subscriber base reached 130.3 thousand subscribers at the end of May 2005 with a mobile penetration in the region of approximately 14%.

© "MForum.ru"