Russian mobile operator MTS announced it has increased its stake in outlet network TS-Retail from 25% to 40% for a nominal sum.
As Comstar UTS owns 15% of TS-Retail, MTS now has effective control of the retail company, with a 55% stake.
The rest of…
Russian mobile operator MTS announced it has increased its stake in outlet network TS-Retail from 25% to 40% for a nominal sum.
As Comstar UTS owns 15% of TS-Retail, MTS now has effective control of the retail company, with a 55% stake.
The rest of TS-Retail is owned by subsidiaries of the Sistema group, which also controls MTS.
At the end of 2008, TS-Retail had over 300 outlets. During 2009, MTS took over operational control over the shops as part of its retail development strategy.
