According to the company’s CEO Vyacheslav Nikolaev, such a decision will make the assets more approachable for investors and increase the efficiency of the management structure.
One of the companies will be called MTS WEB Services, the company specified. It will include the existing divisions of the MTS’ cloud and network infrastructure as well as data centers. This subsidiary will also receive radio subsystems, a transport-switching network, fixed-line resources, and more. The staff will be 9.5 thousand people. MTS will remain the holder of the licenses for the use of frequencies.
MTS expects the allocation of assets to be completed by early 2022, provided that the decision is approved at the meeting of shareholders.
On August 2, Russian regulator prolonged the current permits to use the frequencies or LTE networks for another 10 years term, provided that operators will install only Russian-made equipment in LTE networks. MTS expressed its willingness to purchase the competitive Russian equipment with the required characteristics, quality, and prices.
Sistema Public Joint Stock Financial Corporation