Support The Moscow Times!

MTS Eyes 10% Growth

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.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.