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

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

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)

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