1. GENERAL INFORMATION AND DESCRIPTION OF BUSINESS
Public Joint-Stock Company Mobile TeleSystems ("MTS PJSC", or "the Company") is a company incorporated under the laws of the Russian Federation and having its registered address at 4, Marksistskaya Street, 109147, Moscow, Russian Federation.
The consolidated financial statements of the Company and its subsidiaries ("the Group" or "MTS") as of December 31, 2017 and 2016, and for the years ended 31 December 2017, 2016 and 2015 were authorized for issue by MTS President on March 19, 2018.
Business of the Group—MTS PJSC was incorporated on March 1, 2000, through the merger of MTS CJSC and Rosico TC CJSC, its wholly-owned subsidiary. MTS CJSC started its operations in the Moscow license area in 1994 and then began expanding through Russia and the CIS. MTS PJSC's majority shareholder is Public Joint-Stock Financial Corporation Sistema or Sistema, whose controlling shareholder is Vladimir P. Yevtushenkov.
The Group provides a wide range of telecommunications services including voice and data transmission, internet access, pay TV, various value added services ("VAS") through wireless and fixed lines, integration services as well as selling equipment, accessories and software. The Group's principal operations are located in Russia, Ukraine and Armenia.
MTS completed its initial public offering in 2000 and listed its shares of common stock, represented by American Depositary Shares, or ADSs, on the New York Stock Exchange under the symbol "MBT". Since 2003 common shares of MTS PJSC have been traded on the Public Joint-Stock Company "Moscow Exchange MICEX-RTS" ("Moscow Exchange").
Since 2009, the Group has been developing its own retail network, operated by Russian Telephone Company CJSC ("RTC"), a wholly owned subsidiary of MTS PJSC.