UPDATE: MTS approves new strategy, confirms current listing on NYSE, MOEX - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: MTS approves new strategy, confirms current listing on NYSE, MOEX

(Adds comment, quotes in last two paragraphs)

MOSCOW, Oct 25 (PRIME) -- The board of directors of major Russian mobile operator MTS has approved the groupТs new strategy for 2020Ц2022 and confirmed its current listing structure on the New York Stock Exchange (NYSE) and the Moscow Exchange (MOEX), the company said on Friday in a statement.

УToday we have approved MTS GroupТs new three-year development strategy, which envisions accelerating the establishment of a large-scale ecosystem of digital products for our customers by leveraging our telecommunications leadership and expertise,Ф President and CEO Alexei Kornya said.

УWe intend to concentrate our efforts on improving peopleТs lives, as well as balanced business development, growing our capitalization, and increasing returns for investors. We plan to publicly present the new growth strategy at our Investor Day on November 25.

УThe board also confirmed the continued suitability of the companyТs existing listing structure. This decision reflects the wishes of our investors who engaged in consultations with MTS management over the past half year. The current listing structure also complements our new digital strategy, which envisions developing a variety of innovative services for a range of industries, and provides significant opportunities to attract international and specialist investors focused on the technology sector.Ф

Kornya said MTS remains committed to the best-in-class standards of governance, disclosure, and transparency.

An MTS spokesperson told PRIME that consultations with investors showed that possible losses from moving to other floors would have been much higher than the current cost of listing on the NYSE.

MTSТs American depositary receipts (ADRs) went up 0.58% to U.S. $8.68 as of 5.52 p.m. Moscow time. Its common shares rose 1.20% to 278.55 rubles on the MOEX.

(63.8600 rubles Ц U.S. $1)


25.10.2019 18:12
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 69.8608 -0.5663 14 dec
USD 62.5544 -0.6713 14 dec
Stock Market Indices
1D 1W 1M 1Y
rtsi 1501.42 +0.30 18:50 13 dec
micex 2996.63 +0.46 18:50 13 dec
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 249.50 -0.39 18:49 13 dec
lkoh 6168.00 +0.52 18:49 13 dec
rosn 451.10 -0.38 18:48 13 dec
sber 241.21 +0.07 18:49 13 dec
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 69.7250 -0.5800 14:59 13 dec
USDTD 62.7300 -0.1900 17:44 13 dec