Russia's Sistema Sells Stake in MTS for $100.4 Million
September 23 2016 - 08:46AM
Dow Jones News
By Olga Razumovskaya
MOSCOW--Russian conglomerate AFK Sistema has sold a 1.27% stake
in the leading Russian mobile operator OAO Mobile TeleSystems for
$100.4 million, Sistema said Friday on its website.
The stake was sold in the form of American Depository shares to
a non-affiliated buyer, the statement said.
AFK Sistema continues to control the mobile operator, holding
50.44% of MTS's share capital.
"This transaction will help us to further strengthen Sistema's
investment resources and diversify its investment portfolio where
MTS remains a core asset," Sistema's Chief Executive Mikhail
Shamolin said. "It is fundamental that we have retained control in
MTS, and we do intend to remain the operator's controlling owner
going forward," he added.
Write to Olga Razumovskaya at Olga.Razumovskaya@wsj.com
(END) Dow Jones Newswires
September 23, 2016 08:31 ET (12:31 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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