Russian cellular operator MTS may hold an IPO of its subsidiary MTS Web Services (MVS), company president Vyacheslav Nikolaev told Kommersant in an interview.

He specified that MTS Bank is one of the first in line for an IPO.

"The bank sets ambitious goals to become one of the top 5 retail credit institutions in the country in the next few years, and by the end of 2022 - to significantly increase net profit. That is, in terms of business development, probably, yes, MTS Bank will be ready to 'unpack' the value among the first," Nikolaev said.

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Author: Karina Kamalova