The largest mobile phone operator in Russia and the CIS, Mobile TeleSystems (MTS) has announced it acquired a 100% stake in Russian mobile phone retail chain operator, Teleforum for $11 million. MTS (МТС) agreed to pay 20% of purchase price upon closing and the remainder in 12 months subject to Teleforum’s meeting certain business performance criteria.
Teleforum (Телефорум) operates 180 retail stores in the North West of Russia, of which half is located in St. Petersburg and the Leningrad region. The stores sell mobile phones and other consumer electronics as well as tariffs and contracts of mobile phone operators.
In February 2009, MTS acquired Telephone.ru mobile retail chain for $60 million.