MTS Eyes 10% Growth

April 6, 2011

Mobile TeleSystems expects revenue to grow 10 percent in 2011, the company said in a statement Tuesday.

MTS reported lower-than-forecast earnings and margins for the final quarter of 2010. Fourth-quarter net profit was $156.3 million, hit by a $137.8 million write-off related to the suspension of operations in Turkmenistan. Full-year sales grew 14.5 percent to reach $11.3 billion.

Vice president Oleg Raspopov said MTS was in talks with Belarus to buy the government's controlling stake in a local joint venture.

Belarus had proposed that MTS buy the 51 percent stake for $1 billion, President Alexander Lukashenko said last month.

(Reuters)

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