Sistema Shyam TeleServices Ltd (SSTL), which operates under the brand MTS in the country, today slashed calling rates to the US, Canada and UK to Rs 3.99 per minute from Rs 6.4 per minute, a reduction of 40 per cent.

The rates will come into effect from May 15 and users will be able to avail these lower rates for a period of one month, SSTL -- a joint venture between Russia-based Sistema and India''s Shyam Group -- said in a statement.

MTS customers can enjoy the reduced rates while calling both mobile and fixed lines in the USA and Canada and fixed lines in the UK. The International Standard Dial calling rates to these countries have been slashed by as much as 40 per cent.

"We at MTS India have slashed our calling rates to USA, Canada and UK by as much as 40 per cent to enable people to stay in touch with their loved ones. I am confident such an initiative would be very well received by all our customers," MTS India Chief Marketing and Sales Officer Leonid Musatov said.

At present, most mobile operators have priced their calling rates to the US, Canada and UK at Rs 6.4 per minute, the release added.

Meanwhile, according to a ranking published by global market research and consulting firm Millward Brown Optimor, MTS has been named as one of the 100-most valuable brands. MTS stands at 80th position with a brand value of USD 10.9 billion in the latest annual listing of the most valuable brands in the world.