Telecom XXI - (Merged with MTS)

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Telecom XXI was created in December 1997 by MFK Financial Group, Millicom International and local authorities (15%) to provide cellular services in St. Petersburg. The company received the license to provide GSM 1800 cellular services in April 1998 and additional Gsm 900 license in April 2000. The license area included Russias North-West region - St. Petersburg, Arkhangelsk, Murmansk, Novgorod, Vologda, Pskov, Kaliningrad and Leningrad regions, the Nenets autonomous district and Karelia. The project envisaged an initial investment of US$ 200 million, but the company invested very little in its network. In May 2001, Mobile TeleSystems (MTS) acquired 100% of the Telecom XXI for US$50 million. The take over deal was completed in late 2004 when seven liquidated subsidiaries' licenses were handed over to MTS. As of 2004, MTS controlled 22 Russian operators. http://www.spb.mts.ru/(russian) Consolidated into Mobile Telesystems in 2001 None