Euromoney: Mobile TeleSystems Is Russia's Corporate Management Leader

Martin Born, Director, Central and Eastern Europe, Euromoney Publications, awarded Mikhail Smirnov, President of Mobile TeleSystems (MTS) of Russia the certificate of leadership in corporate management. According to MTS' press service, the certificate names the company the world's second and Russia's first among telecommunications companies as concerns corporate management. The number of companies rated is not given.

Euromoney Publications carried out its research, as concerned corporate management, in Central and Eastern Europe, Turkey, Thailand, Brazil, South Korea, Chile, India, Taiwan, Malaysia, Hong Kong, China, and the CIS. Selected for rating, as concerned conformance to the principles of corporate management, were 220 companies, 11 of them Russia's. Compania de Telecomunicaciones de Chile was named the world's best. The criteria of selection were as follows: financial transparency, organisational structure, management structure, relations with investors and stockholders as concerned the rights of minority holders, guarantees of investors' rights, and the reliability of information about the companies investors and stockholders received.

Mobile TeleSystems is one of Russia's mobile communications operators. Its principle stockholders include AFK System (42%) and Deutsche Telekom (40%). The remaining 18% circulate on New York Stock Exchange. The company and its subsidiaries are licensed to provide mobile telecommunications services as per GSM-900/1800 standard in 49 regions of Russia whose combined populations amount to 93.5 million. The company's clients number over 4 million.

London's Euromoney is among the most influential financial magazines in Europe. Euromoney Publications is represented in New York, Tokyo, and Hong Cong.