Russia’s Sistema sells 1.45% of MTS’ shares in ADSs for $123.5 mln

MOSCOW, Jun 23 (PRIME) -- Russian multi-industry holding Sistema has sold a 1.45% stake in mobile operator MTS, represented by 14,965,592 American depositary shares (ADSs), to a non-affiliated buyer for U.S. $123.5 million, Sistema said Thursday in a statement.

“MTS is a strategic asset for Sistema, we are confident in the outlook for growth of its market value, and we consider it fundamentally important that Sistema remains MTS’s controlling owner,” Sistema’s President and CEO Mikhail Shamolin said.

“At the same time, this transaction will make an important contribution toward achieving Sistema’s strategic objectives of further diversifying its portfolio, expanding its investments in new projects and optimizing its capital structure.”

The transaction was executed in compliance with U.S. Securities and Exchange Commission Rule 144. Following this transaction, Sistema owns 50.01% of MTS’s total share capital.

End