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MTS May Borros as It Grows Amid Crisis, CFO Kornya Says

OAO Mobile TeleSystems, Russia’s biggest mobile operator, may borrow this year as it seeks to expand in countries such as Ukraine amid the worst economic crisis since 2009, Chief Financial Officer Alexey Kornya said.

The company, which has about $1 billion in cash, expects to borrow about $500 million by end of 2015 and may tap debt markets as soon as this quarter, Kornya said in an interview at Bloomberg headquarters in New York. MTS, which is not directly targeted by international financial restrictions imposed on Russia linked to the Ukraine conflict, still has access to overseas credit markets and may borrow in dollars and rubles, he said.