MTS India acquires Russian Mobile Retail Chain Teleforum

MTS India which is the CDMA mobile service of Sistema Shyam Teleservices Ltd (SSTL), has expanded its presence in the retail space with the acquisition of Teleforum a Russian Mobile Retail Chain. This MTS India acquisition is valued at $11 million and brings with it 180 Teleforum stores.

MTS India will make 20 percent of the deal value immediately and the remainder is to be paid over a period of 12 months subject to meeting predefined financial benchmarks. The MTS India share has seen a lot of volatility recently.

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