MTS Group, one of the largest mobile operators in Russia and Eastern Europe, said it expects its revenues to grow by around 10% in 2011 due to improving macroeconomic conditions, rising data traffic, a greater contribution from its retail business, general usage growth and "further development of our businesses in the CIS."
MTS added that it plans to spend between 22% and 24% of its revenues on capex in 2011, compared with 23% in 2010, when its capex amounted to 2.6 billion US dollars. MTS said it now has more than 6,500 3G base stations installed in Russia and has launched LTE networks in Uzbekistan and Armenia
In the fourth quarter of 2010, MTS said its revenue in Russia grew 17% year-on-year to 77.8 billion Russia roubles (2.75 billion US dollars), lifted by a 48% increase in revenues from data traffic. source: MTS presentation
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