MTS and AFK "System" will jointly develop the Content Business

Telecommunications operator MTS and the company AFK "System" announced an agreement for joint development and management of multimedia content-portal Stream.ru (previously - Omlet.ru).

OJSC "MTS" and AFK "System" signed an agreement on joint participation in the authorized capital of the multimedia company "Stream", the management portal Stream.ru. AFK "System" made in cash to the share capital of "Stream" 496 million rubles, and after the procedure of state registration in accordance with Russian legislation, the share of MTS and AFK "System" in the company "Stream" will amount to 45% and 55% respectively.

The company "Stream" will operate under the brand Stream. Operational management of the company will provide JSC "Sistema Mass Media."