Sistema sells MTS’ shares for 2.3 bln rbl under operator’s buyback

MOSCOW, Nov 10 (PRIME) -- Russian multi-industry holding Sistema has sold via its unit, Sistema Finance S.A., 8,138,237 ordinary shares of mobile operator MTS to the operator’s subsidiary, LLC Stream Digital, with the amount of the deal at 2.298 billion rubles as part of the MTS share buyback program, Sistema said on Friday in a statement.

“In accordance with the terms of the program, the number of shares for the purpose of the transaction was calculated based on the number of ordinary shares and American depositary shares of MTS purchased by (LLC Stream Digital) in the open market in October 2017 in proportion to Sistema Group’s effective equity stake in MTS,” the statement read.

As a result of the deal, Sistema’s effective stake in MTS remained unchanged at 50.004%.

(59.2527 rubles – U.S. $1)

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