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. Last Updated: 07/27/2016

Sistema Buys Half of MTS Rival

Sistema, the holding that controls Russia's biggest cellular operator Mobile TeleSystems, said Monday it would take a 50 percent stake in a nascent competitor to MTS that uses a rival technology.

The operator is Sky Link, a grouping of networks operating on the outdated NMT-450 technology, a rival to GSM, the dominant mobile technology in Russia and Europe.

The NMT operators are beginning to convert to the more modern but so far little used CDMA-450 standard.

"We are interested in participating in Sky Link because it represents the development of a new market niche and will give new life to our analogue mobile telephony assets," Sistema president Yevgeny Novitsky said in a statement to the media.