Moscow City Telephone Network (MGTS) is planning to raise about $200m to $300m in revenues from its IPO, MGTS General Director Mikhail Smirnov declared. According to him, the concrete date of making the company's IPO is not known, however, it might be in November 2004. As reported earlier, Svyazinvest, one of the MGTS shareholders (23.3 percent), is against holding an IPO. Smirnov noted that corresponding consultations with Svyazinvest were made about this problem.
The company will enter the international financial market within a year after shareholders adopt a decision to make an IPO, Smirnov added.
The Armed Forces of Ukraine may face new problems over the upgraded Russian unmanned aerial vehicle Lancet. Kyiv will now need to use airfields far from the line of combat contact and look for new ways to protect its aircraft