Mobile TeleSystems market capitalization boosts

At present, the market capitalization of the Russian mobile operator Mobile TeleSystems (MTS) amounts to $5.1bn, MTS President Mikhail Smirnov reported today. According to experts, the market capitalization of the company came to $3.988bn at the beginning of the year 2003. Smirnov said MTS's stock had doubled since the company had first placed its shares on the New York Stock Exchange (NYSE) in July 2000. The price of one share is currently $51.42.

The MTS provides services for over 10 million subscribers. The company and its subsidiaries are authorized for providing GSM-900/1800 standard mobile communication services in 56 regions of Russia.

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