Even as MTS India, the CDMA mobile telephony service from Sistema Shyam Teleservices Ltd (SSTL), is still busy with its creative pitch, the telecom company has also initiated the process of reviewing its media business. The incumbent on the business is MPG, which has been working with the company since its launch in India in March 2009.
There were no official comments from the company at the time of filing the report, but industry sources informed that the review was a part of the company norms and processes. Sources also informed that the business was pegged in the vicinity of Rs 120-150 crore.
Mobile TeleSystems OJSC (MTS), a part of Sistema Group, provides mobile communications in Russia, Ukraine, Uzbekistan, Turkmenistan, Armenia and Belarus, the territory with a total population of more than 230 million. The company has been listed on the New York Stock Exchange since July 2000 and trades under the ticker MBT.