Sistema-owned Comstar-UTS has gained complete control of its Ukrainian subsidiary, securing the remaining 25% stake in Comstar-Ukraine it did not hold from Neotel for $0.9 million (€0.67 million). In accordance with Ukrainian regulations, it bought 24% directly, with 1% being acquired through the subsidiary UTS MGTS. Comstar-UTS established Comstar-Ukraine with Neotel in June 2006. Based in Kiev and Odessa, the company is understood to be constructing its own telecom network and to have a licence to offer TV services.
