According to local reports, Russia’s Sistema Mass Media (SMM) saw its Q1 2007 sales rise year-on-year by 79% to $25 million (€18.6 million) thanks largely to the addition of new pay-TV customers. The company is also understood to be on track for an IPO in 2009. SMM’s parent company Sistema has meanwhile announced changes to both its and MTS’s report financial results for 2006. They relate to a dispute with Nomihold Securities, which is trying through arbitration to make MTS Finance buy a 49% stake in Tarino, a former indirect owner of a Kyrgyz GSM operation, for $170 million.
