PRESS: Source: MTS in search of investor in base station maker

MOSCOW, Nov 28 (PRIME) -- Russian mobile operator MTS wants to involve partners in the capital of its subsidiary, base stations developer Irtea, to split sanctions risks, business daily Kommersant reported on Tuesday quoting sources.

A market source told the daily that MTS is looking for a partner to get a 50% stake in the operator’s Irtea, which develops base stations under the relevant roadmap of the government.

“It is needed to reduce sanctions risks for MTS because Irtea takes part in a state project,” a person close to a connection operator.

A source in another operator confirmed that MTS is searching for a partner. “The sale of a stake in Irtea is required, among others, to make the company more independent and able to ship base stations to other operators,” the source said.

The sources told the daily that large electronics producer Aquarius is already interested in the stake. Neither MTS nor Aquarius commented on the matter.

Under the roadmap, Irtea intends to manufacture up to 20,000 base stations a year till June 2026 with own investment of 5.6 billion rubles and the same amount provided by the government.

(88.7045 rubles – U.S. $1)

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