MTS Reports Mixed 2Q Results With Better Revenue but Weaker Margins; Shares Slightly Undervalued
Mobile TeleSystems reported mixed second-quarter results with better revenue growth but weaker margins. Additionally, the firm sold its 50.1% stake in its operation in Uzbekistan to the government. While this will reduce revenue, it will improve the firm's EBITDA margin as this business was operating around break-even. It also removes MTS from a country that has caused political headaches for most of the operators there. We are updating our model for these events but don't anticipate any signifi...
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