Telekom Sells Stake in Russia's MTS

Deutsche Telekom, the German telecommunications giant, said Monday it planned to sell its remaining 10-percent stake in Russian mobile operator MTS (OJSC Mobile TeleSystems). Deutsche Telekom said in a statement it would sell the shares on the Russian market via an accelerated book-building process starting Monday. The German giant had already said it would sell its entire shareholding in MTS since it could not gain full control of the company. It placed a 15-percent stake in MTS on the open market in December 2004, which raised some $1.73 billion (1.3 billion euros) for the German group.