Kuban GSM - (merged with MTS)

active

Kuban GSM provides GSM 900/1800 cellular services in Krasnodar Region and Adygei Republic with population of more than 5.5 million. The company was established in May 1997. Kuban GSM, in cooperation with Ericsson has launched a GSM cellular network in Kuban on February 1998. The cost of the network was estimated at $7 million to serve 12,000 subscribers. By the end of 1999 Kuban GSM had 50 base cellular stations. In April 2002 Mobile TeleSystems (MTS) bought a 51% controlling stake in Kuban GSM for US$ 71.4 million from Southern Telecommunications Company (formerly, Kubanelektrosvyaz), private telecommunications company Kubtelecom and individuals. Kuban-GSM started providing services under the MTS brand since June 2003. In October 2003 MTS owned 52.67% of Kuban GSM shares, and 47.33% of the shares were owned by MTS through it subsidiary Kubtelesot. MTS became 100% owner of Kubtelesot in September 2003. During Kubtelesot liquidation, shares of Kuban GSM were transferred to MTS. Limited informatioon about the investment. Consolidated into Mobile Telesystems from April 2002. Investment US$4.9 million and subscribers 1500 thousand in 2003. In 2002 812 thousand subscribers. Percent private - to be clarified as it was partly owned by Kubanelectrosvyaz, a branch of South Telecommunications Company