In line with MTS’ strategy to improve the Group’s efficiency, the Company has completed the merger of eight of its 100%-owned subsidiaries in Russia. The following subsidiaries were merged into MTS: Telecom XXI, Kuban-GSM, Digital Network of Udmurtia (“DNU-900”), Dontelecom, MTS-Barnaul, MTS-Nizhniy Novgorod (“MTS-NN”), Telecom-900 and Amur Cellular Communication (“ACC") (The merger of ACC was approved at the Extraordinary General Meeting held on April 17, 2003). The merger process was approved by the EGM on November 9, 2004 and by the Russian registration authority on June 30, 2005.

Vassily Sidorov, President and CEO of MTS, said: “This is a very important step for MTS, optimizing the Group’s structure and the running of its regional operations. The merger should help streamline management procedures throughout Russia, further strengthen our internal business processes and attain other synergies across the Group.”

© "MForum.ru"