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MTS Keeps Focus on Russia Amid Europe Opportunities

(Corrects to say MTS isn’t actively pursuing European assets in first two paragraphs.)

June 20 (Bloomberg) -- OAO Mobile TeleSystems, Russia’s biggest mobile operator, is keeping its focus on the Russia region amid opportunities among European assets that have suffered in the region’s crisis, said Josh Tulgan, MTS investor relations officer.

“Obviously, we look at opportunities” though the company doesn’t have an “active goal” to expand beyond its current market, Tulgan said in a phone interview today from Moscow. “You can characterize some assets in Europe as borderline distressed.”

“Our focus is maximizing value on the Russian market and the Ukrainian and the Belarussian markets,” he said.

MTS isn’t considering selling new Eurobonds at the moment, Tulgan said.

“Right now we don’t have any potential funding needs that would require us to do something extraordinary,” Tulgan said.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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