Monday, 12 December 2005

RUSSIAN COMPANY BUYS KYRGYZ CELL OPERATOR FROM KAZAKH INVESTORS

Published in News Digest

By empty (12/12/2005 issue of the CACI Analyst)

Russia\'s MobileTelesystems (MTS), the country\'s largest cellular operator, announced on 12 December that it has acquired a 51 percent stake in Kyrgyz cellular operator Bitel from Kazakhstan\'s Alliance Capital for $150 million. MTS also acquired an option to buy out the rest of Bitel by the end of 2006. Alliance, which reports have linked to the family of former Kyrgyz President Askar Akaev, has been embroiled in a conflict with Russia\'s Alfa Group since Alliance acquired Bitel this spring.
Russia\'s MobileTelesystems (MTS), the country\'s largest cellular operator, announced on 12 December that it has acquired a 51 percent stake in Kyrgyz cellular operator Bitel from Kazakhstan\'s Alliance Capital for $150 million. MTS also acquired an option to buy out the rest of Bitel by the end of 2006. Alliance, which reports have linked to the family of former Kyrgyz President Askar Akaev, has been embroiled in a conflict with Russia\'s Alfa Group since Alliance acquired Bitel this spring. MTS CEO Vassilii Sidorov played down the risks of ongoing litigation, saying, \"We would not do a deal if we were not certain we could eliminate those risks.\" Bitel is Kyrgyzstan\'s largest mobile operator, with nearly 500,000 subscribers and an almost 90-percent market share. MTS estimates that by 2010 there will be 2-3 million cell phone users in Kyrgyzstan. (Reuters)
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