Moscow, 10 November 2017ľ Sistema PJSFC (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that its subsidiary Sistema Finance S.A. sold 8,138,237 ordinary shares of PJSC MTS (hereinafter, "MTS") to a subsidiary of MTS, LLC Stream Digital ("the Purchaser"), as part of the MTS share buyback programme ("the Programme"), which was approved by the Board of Directors of MTS in April 2016 and will be effective until April 2019. The amount of the transaction was approximately RUB 2,298.4 million.
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 October 2017 in proportion to Sistema Groupĺs effective equity stake in MTS.
As a result of implementation of the Programme in October 2017, Sistema Group's effective stake in MTS remained unchanged at 50.004%.
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