MTS, Russia’s leading telecommunications operator and digital services provider, has signed a binding agreement with Bakcell-controlled Telco Solutions and Investments to sell its telco operations in Ukraine.
In accordance with the agreement, MTS’s wholly-owned subsidiary Allegretto is selling its 100% stake in its Dutch subsidiary Preludium B.V, the sole shareholder of VF Ukraine PrJSC, for $734m.
MTS President & CEO Alexey Kornya said: “This deal is in line with our revamped strategy to build innovative digital services on top of a strong telecoms foundation. As our core market, Russia accounts for over 90% of Group revenue. Given the small share of our Ukrainian operations in our overall business, we reaffirm our commitment to continuing to generate attractive returns for our shareholders.”
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