MOSCOW, May 22 (RIA Novosti) - Russia's largest mobile communications operator Mobile TeleSystems (MTS) has applied to the Russian Antimonopoly Service to buy up to 100% of Moscow's largest multiservice communications operator, Comstar.
"In case of a successful closing of the acquisition deal, an integrated telecommunications operator in Russia and the CIS countries will be established, which will make it possible to speed up the development and distribution of communications services and broadband access in those markets in which MTS has a presence," MTS said.
The company said no decision had yet been made on the final size of the deal.
MTS posted a US GAAP net profit of $1.93 billion and revenues of $10.25 billion in 2008.
Comstar United TeleSystems operates in several Russian regions and former Soviet republics. The company's main shareholder is diversified financial corporation AFK Sistema, which holds a 51% stake. AFK Sistema also holds about 53% of MTS stock.
