Reuters logo
7 months ago
BRIEF-Russia's Sistema says its effective share in MTS down to 50.03 pct
December 22, 2016 / 7:37 AM / 7 months ago

BRIEF-Russia's Sistema says its effective share in MTS down to 50.03 pct

1 Min Read

Dec 22 (Reuters) - Sistema says:

* Sistema subsidiary, Sistema Finance S.A., sold 6,248,227 American Depositary Shares of MTS (Mobile TeleSystems) , representing 0.63 percent of MTS's share capital, to a non-affiliated buyer for a consideration of $55.359 million net of commission.

* Following this transaction, Sistema Group's effective share in the share capital of MTS, including shares owned by Sistema through its subsidiaries, declined to 50.03 percent from around 50.66 percent.

* Sistema plans to remain the company's controlling owner.

* Mikhail Shamolin, President and Chief Executive Officer of Sistema, said: "The transaction ... generates additional resources for Sistema and allows us to continue investing in new promising projects in the Russian market." Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below