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 Monday, April 07, 2008

Russia’s largest cellular operator, Mobile TeleSystems (MTS), will report revenues of more than USD8 billion for 2007, up 25% on the 2006 figure. Though full financial statistics have still to be released for 2007, MTS says its annual sales growth beat its own forecasts of around 22%. MTS had 85 million mobile subscribers in Russia and the CIS at the end of 2007, including 57.4 million in its domestic market. Last week MTS was reported to have made a USD1 billion offer to acquire smaller rival SMARTS Group, though the company has still to comment on the reports.

Source: TeleGeography.