June 2010: MTS decided to increase its stake in Comstar
in several steps:
825 ordinary shares in MTS for every share they own in Comstar
, while those who did not back the move will have the right to dispose of the shares by selling them back to Comstar
Russian telecoms provider COMSTAR
a[euro]" United TeleSystems (Comstar
) (LSE:CMST) reported on Tuesday that mobile operator Mobile TeleSystems (MTS) (NYSE:MBT) has launched a voluntary tender offer to purchase up to 9% of Comstar
's stock for RUB220 per share.
As e-mail has become a crucial element in the way COMSTAR
interacts with its members, the credit union's IT personnel were charged with the task of choosing and deploying a solution that would maintain the constant availability of its Microsoft Exchange server infrastructure.
, a community-based credit union, selected FICS' Mortgage Servicer because the system provides the tools needed to streamline and simplify the servicing of loans sold to Freddie Mac.
serves as the fixed-line unit of MTS (MBT - Buy), and will be fully merged into MTS in 1H11.
The offer comes after the boards of Comstar
and MTS agreed on 25 June to combine the two companies.
The boards of directors of Mobile TeleSystems OJSC (MTS) (NYSE: MBT), a telecommunications provider in Russia and the CIS, and COMSTAR
- United TeleSystems JSC (LSE: CMST), a supplier of integrated telecommunication solutions in Russia and the CIS, have approved and recommended the merger of MTS and Comstar
In addition, based on the Group's operating results for the first six months of 2009, the Comstar
Board of Directors has approved an increase in the maximum amount of capital expenditure for 2009 from 6% to 8% of the Group's revenues.
The presence of the two buyout options for Comstar
-UTS minorities provides additional value, particularly as both of the options imply a buyout above the current Comstar
Rostelecom is paying EUB18bn of the total to Comstar
for its 17.
Viktor Koresh, general director of Comstar
-Regions, said that Comstar
plans to continue acquiring shares in RTC from minority shareholders.