Comstar UTS is to undergo a process of restructuring. Speaking to the local press, its CEO Sergei Pridantsev said it would aim to double the Russian company’s market capitalisation to $10 billion (€7.28 billion) within a year. Job cuts, in particular at the Moscow City Telephone Service (MGTS), will be a main feature of the process, though many observers believe the financial target to be unrealistic. Comstar UTS is backed by Sistema and is the leading combined telco operator in Moscow and the Moscow region, providing a range of services including pay-TV and broadband Internet access. It also has a presence in other parts of Russia and former Soviet Union.