Sistema sells 39.5% in MTS Bank to MTS for 11.4 bln rbl

MOSCOW, Feb 12 (PRIME) -- Russian multi-industry holding Sistema and its subsidiary Sistema Telecom Assets have sold 39.5% shares in MTS Bank to mobile operator MTS for 11.4 billion rubles, Sistema said in a statement on Tuesday.

As a result of the deal, Sistema’s direct ownership of MTS Bank fell to 5%, while MTS’ ownership grew to 94.7% from 55.2%.

In July 2018, Sistema sold 28.6% in MTS Bank to MTS for 8.3 billion rubles.

(65.6517 rubles – U.S. $1)

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