Billionaire Evtushenkov considers takeover targets for overseas expansion

By IVCPOST Staff Reporter

Jul 27, 2013 12:50 PM EDT

Billionaire and owner of OAO Mobile TeleSystems Vladimir Evtushenkov said he is considering takeover targets to expand his business overseas. His wireless carrier is the largest wireless operator in Russia and Soviet Republic with over 101 million subscribers, but is currently facing tough competition in the country. While he does not yet have any concrete proposals, Evtushenkov said that his prospects include the Czech unit of Telefonica which currently has 9.3 million users but has experienced a challenging year. Telefonica cut its market capitalization to an estimated USD 4.7 billion as stocks took a fall, losing more than a quarter of its original value.

He revealed that he is also looking at possible growth opportunities in Russia and India, where his company already operates. He specifically has a continuing interest to acquire Tele2 Russia. "We are considering all possibilities everywhere. We receive different proposals and we study everything very thoroughly," the billionaire told Bloomberg in an interview. 

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