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Russia's MTS to Sell Vodafone Ukraine to Bakcell for $734M

Russia's MTS to Sell Vodafone Ukraine to Bakcell for $734M Image Credit: Vodafone

MTS, Russia's biggest mobile phone operator announced the signing of an agreement Azerbaijan’s Balcell to sell its telecommunications operations, Vodafone Ukraine.

In accordance with the agreement, MTS’s wholly owned subsidiary Allegretto s.a.r.l. sells its 100% stake in its Dutch subsidiary Preludium BV, a Netherlands-based company and full shareholder of Vodafone Ukraine for USD 734 m.

Vodafone Ukraine is currently the second telecommunications operator in the Ukrainian market.

Alexey Kornya, President, MTS
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 fulfilling our updated dividend policy and continuing to generate attractive returns for our shareholders.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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