TAIF-Telkom (merged with MTS #1327)

active

TAIF-Telkom provides mobile services in the GSM 900/1800 standard in the Republic of Tatarstan in the Volga region of Russia with a population of around 3.8 million people. The company was founded in November 1998 as a part of the TAIF (Tatar-American Investment and Finance) industrial and investment company Telecom. The main owners of TAIF-Telecom were Goskomimuschestvo (51%), MKS trading (30%), Kazan and Corsar (19%). The company launched its commercial services in April 1999. The company signed a four-year US$66 million supply contract with Ericsson in December 1999. TAIF-Telekom had 2,651 subscribers by November 1999. TAIF-Telkom had 221 base stations and switching centers by 2003. In October 2004 the company reached 595,820 subscribers. In two transactions during April and May of 2003 Mobile Telesystems (MTS) acquired a 52.715% controlling stake in TAIF-TELKOM for a total of $63.27 million. In October 2004 MTS exercised an option on the rest of the TAIF-Telekom shares, paying some $63.0 for the remaining 47.285%. TAIF-Telekom operated under the Santel brand up to September 2003, when it switched to the MTS brand.