11.47 Europe/London, August 2, 2011 By Chris Dziadul

MTS posted the highest revenues amongst companies providing telco services in Russia last year. However, the cable operator E-R Telecom enjoyed one of the highest growth rates.

Research published by Cnews shows that MTS had revenues of R370.505 billion (€9.338 billion) last year, or 19% more than in 2009.

Vimpelcom was in second place with R344.488 billion (+25.1%), followed by Svyazinvest with R271.600 billion (-0.1%) and Megafon with R215.515 billion (+18.5%).

NTK, the largest cable operator in Russia, was in seventh place with R10.790 billion (+30%), the Moscow-based cable operator Akado in eight with R10.561 billion (+19.2%) and E-R Telecom joint tenth with R6.800 billion (+45.5%).