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Mobile TeleSystems (MBT +4%) trades up after UBS raises its rating to Buy on the shares, citing...

Mobile TeleSystems (MBT +4%) trades up after UBS raises its rating to Buy on the shares, citing the company's solid growth and reliable dividend stream. UBS notes that Russian service revenue grew 7.8% Y/Y in Q3 despite cost-cutting measures, and data revenue is consistently growing 50%. If this continues, it could support a higher growth multiple in 2012.
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