Deals
MTS With Owner Under Arrest Weighs Stake in Svyaznoy Chain
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OAO Mobile TeleSystems, Russia’s largest wireless carrier, may buy a stake in handset retailer Svyaznoy to safeguard its sales channels, even as MTS’s billionaire owner remains under house arrest in connection with oil industry investments.
“We requested an antitrust approval for the acquisition, while it hasn’t yet been reviewed by the board of directors,” Chief Executive Officer Andrei Dubovskov said in an interview in Moscow. “The deal may proceed if it would guarantee investment returns and boost MTS cash flows.”