Top Russian mobile operator sells Ukrainian business

Russia’s biggest mobile phone operator MTS said on Monday it had agreed to sell its Ukrainian business to Azerbaijan’s Bakcell for $734 million. The company also said its board had approved a special dividend of 13.25 rubles ($0.21) per ordinary share, or 26.5 billion rubles ($420 million) in total.

“Given the small share of our Ukrainian operations in our overall business, we reaffirm our commitment to fulfilling our updated dividend policy and continuing to generate attractive returns for our shareholders,” MTS Chief Executive Officer Alexey Kornya said.

The transfer of shares in VF Ukraine to Bakcell-controlled Telco Solutions and Investments is expected to complete shortly, MTS said in a statement.

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Topics: Finance, International, M&A, Mobile, Mobile networks, News
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