| | International Law Office - Legal Newsletter (Site not responding. Last check: 2007-11-03) |
 | | Mobile TeleSystems, Russia's leading mobile communications operator and one of the largest mobile operators in Eastern Europe, has acquired a 57.7% stake in Ukrainian Mobile Communications (UMC), the second largest Ukrainian mobile operator, for 194.2 million. |
 | | Under the agreement, Mobile TeleSystems was to acquire the 16.3% shareholdings held by Deutsche Telekom and Dutch company KPN Telecom for $55 million apiece, and the 25% stake held by Urktelekom, Ukraine's state owned telecommunications operator, for $84.2 million. |
 | | As Mobile TeleSystems had publicly announced the deal long before the application seeking Anti-monopoly Committee authorization was filed, these parties appealed to the committee stating that Mobile TeleSystems had effected the transaction without prior authorization for its acquisition of the controlling stake. |
| www.internationallawoffice.com /Ld.cfm?i=60336&Newsletters__Ref=6554 (546 words) |