PRESS: CEO says MTS wants to sell tower business in H1 2022

MOSCOW, Nov 16 (PRIME) -- Major Russian mobile operator MTS will sell its 23,000 towers in January–June 2022, President Vyacheslav Nikolayev told daily Kommersant in an interview published on Tuesday.

“Yes, we’re now in the process of spinning the towers off, after which the sale will become possible,” Nikolayev said.

The number of MTS’ towers exceeds that of the closest competitor by 30%, he said.

“The operating income before depreciation and amortization (OIBDA) of the business in 2022 is expected at over 10 billion rubles. It all means a good price,” he said.

The negotiations are in progress, and the deal is to close in January–June 2022.

“In the next few months we’ll offer the market an updated policy. We understand that the dividends are important for investors. We’re studying different approaches. The best scenario, we believe, is to pay them more frequently than twice a year and no less than under the previous policy,” Nikolayev told the daily.

MTS’ dividend policy for 2019–2021 sets the target dividend yield at least at 28 rubles per ordinary share, or 56 rubles per American depositary share, for every calendar year with the payments made twice a year.

(72.2724 rubles – U.S. $1)

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