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Mobile TeleSystems

August 23, 2011

MTS enters fixed broadband and cable TV markets in Tula

Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” or the “Company” – NYSE: MBT), the leading telecommunications provider in Russia and the CIS, announces that the MTS Group acquired a 100% stake in each of the four companies operating under the Altair brand (“Altair”), the largest cable TV provider and leading broadband provider in Tula, the administrative center of the Tula region of the Central Federal District, from a group of private investors. The acquisition will enable MTS to become the leading provider of broadband internet and cable television services in Tula and will strengthen Company’s fixed-line business in the Central Federal District.

The purchase price was RUB 680 million (or approximately $23.2 million ).The price includes assumption of Altair’s net debt.

Altair is the largest cable TV provider in Tula with the market share of 72% and one of the leading fixed broadband providers with the market share of 22%. Its fiber optic network covers more than 90% of the city’s households.

“Today, the MTS Group provides fixed-line services in over 120 cities in Russia. The acquisition of Altair allows MTS not only to enter into a new fixed-line market but also to increase its overall presence in the Central region. We see this as a promising market and are committed to strengthening our leadership position through further development and modernization of the networks and offering our customers world-class services. The transaction is in line with MTS’ strategy aimed at building an integrated telecommunications operator,” commented Mr. Dmitriy Rylov, Director of “MTS Center.”

Altair’s financial results will be consolidated in MTS’ financial statements beginning from August 22, 2011.

 

 

 

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