Question-and-Answer Session
Operator
Thank you. [Operator Instructions]. We'll take our first question from
Sergei Arsenyev with Goldman Sachs.
Sergei Arsenyev - Goldman Sachs
Good afternoon. I'd like to ask you about your acquisition strategy. And especially given a very intense press speculation about your interest in Golden Telecom and the potential for a deal with Golden Telecom, and I appreciate that's... you can't talk about this specific transaction especially if you are in the process of it. But I'm just wondering whether you can make a generic comment on how you would rationalize acquiring a business which trades as significant premium to your own multiple and that will result in a... also pretty considerable short term and medium term earnings dilution for you.
Alexander V. Izosimov - Chief Executive Officer
Actually you're absolutely right. We are not commenting on the rumors because it will be very difficult to run the business otherwise. In terms of logical thinking of acquisitions which we do, they have to fit our strategy and our strategy has been clearly communicated. It includes three major growth platforms. So platform number one, that's a consolidation of the market in Russia, and to that extent, acquisition target in various mobile sectors in Russia would be of interest to us.
Number two, that would be continuing to expand geographically both in the CIS and the outside of CIS. So, any country inside the CIS is of our... is of interest.
Sergei Arsenyev - Goldman Sachs
What?
Alexander V. Izosimov - Chief Executive Officer
Outside of the CIS we said that everything what you... south and East of Moscow with Uzbekistan [ph], then, we will go with, plus the strategy where we target major markets. And unless we can establish a presence over kind in the major markets probably wouldn't go into smaller one. Hence, the discussion would be now and which would be in line with that.
The third element, third type of strategy we said that we will be exploring opportunities to enter adjacent businesses, and adjacent businesses would be either of a new nature, let's say mobile TV which doesn't exist or actually territory which well established but where we believe would have a competitive edge or we have assets which could be leveraged effectively in that area. That would include wholesale in the long distance, for example, of the capacity attacking the broadband territory both wirelessly and wireset.
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