MTS Eyes Purchases in Kazakhstan and Azerbaijan

Russia's Mobile TeleSystems (MTS) is eyeing possible acquisitions in Kazakhstan and Azerbaijan, its Chief Executive Officer, Mikhail Shamolin said in an interview with the Reuters news agency.

"There are two countries (where) we are not present yet and I believe we should be present, which is Kazakhstan and Azerbaijan," Shamolin told Reuters Financial Television on the sidelines of St Petersburg Economic Forum. He said that the company was not holding specific talks with any Kazakh or Azeri firms.

MTS already has operations in Armenia, Belarus, Turkmenistan, Ukraine and Uzbekistan.

He did however rule out setting up new networks in the target countries, citing the already decent mobile penetration rates. According to the Mobile World analysts, the mobile penetration rates in Kazakhstan and Azerbaijan at the end of last year were 95% and 64% respectively.

On the web: Reuters - Mobile World

Posted to the site on 9th June 2009