Sistema controlled, MTS today acquired mobile handset retail chain Teleforum with an aim to expand its retail presence. The acquisition is valued at $ 11 million.

Teleforum has 180 stores under its fold.

While MTS will make 20% of the deal value immediately, the remainder is to be paid over a period of 12 months subject to meeting predefined financial benchmarks.

MTS had earlier acquired another two mobile handset retail chains, Telefon.Ru and Eldorado.