Moscow, 5 March 2019– Sistema PJSFC (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company, announces that its subsidiary Sistema Finance S.A. sold 9,000,839 ordinary shares of PJSC MTS (hereinafter, "MTS") to a subsidiary of MTS, LLC Bastion ("the Purchaser"), as part of the MTS share buyback programme in the amount up to RUB 30.0 bn, which was approved by the Board of Directors of MTS in June 2018 and will be effective until July 2020 ("the Programme"). The amount of the transaction was approximately RUB 2.30 bn.
In accordance with the terms of the Programme, 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 the Purchaser in the open market in February 2019 in proportion to Sistema Group’s effective equity stake in MTS.
As a result of implementation of the Programme in February 2019, Sistema Group's effective stake in MTS remained unchanged at 50.0053%.
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