MTS to sell 49.9% of Tower Infrastructure Company based on valuation of more than 125 bln rubles

MOSCOW. June 25 (Interfax) - PJSC MTS has agreed to sell 49.9% of Tower Infrastructure Company LLC (TIC) to the closed-end mutual investment fund Investments 18 managed by Doveritelnaya management company, MTS said.

Taking into account debt, the value of the tower business is estimated at more than 125 billion rubles, MTS CEO Inessa Galaktionova was quoted as saying.

"The sale will allow MTS not only to significantly strengthen its financial position through the deconsolidation of more than 80 billion rubles of debt, but also to attract cash in the amount of 21.7 billion rubles," the company said when describing the parameters of the transaction.

Upon completion of the transaction, MTS will retain direct ownership of the remaining stake in TIC, which owns more than 24,700 antenna-mast structures in Russia.

"The terms of the transaction provide for joint control by MTS and the mutual investment fund over the main activities of TIC," the company said. "MTS remains a long-term tenant of TIC infrastructure under agreements based on market conditions."

MTS Group spun off its tower infrastructure into a separate legal entity, Tower Infrastructure Company LLC, in December 2022. At that time, MTS's portfolio contained around 23,000 towers.

The group repeatedly announced its interest in selling the tower infrastructure starting in 2021, but against the backdrop of the macroeconomic situation, no transactions were announced.

MTS retained its interest in selling the tower business as of the end of 2025, but the terms of the offers received at that time did not suit the company.

In December 2025, the group's CFO Alexei Katunin told Interfax in an interview that MTS was working on the possibility of attracting industrial and financial partners into TIC's capital.

"Perhaps we will attract financial or other partners as shareholders. We have a dialogue both with potential industrial partners (tower companies or those engaged in similar businesses) and with potential financial partners (who view this investment as a rental one)," Katunin said.