Moscow, Russia – 22 December 2016. Sistema PJSFC (“Sistema” or “the Company”) (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company operating primarily in Russia and the CIS, announces that today its subsidiary, Sistema Finance S.A., sold 6,248,227 American Depositary Shares of PJSC MTS (“MTS”), representing 0.63% of MTS’s share capital, to a non-affiliated buyer for a consideration of USD 55.359 million net of commission. The transaction was executed in compliance with U.S. Securities and Exchange Commission Rule 144. Following this transaction, Sistema Group’s effective share in the share capital of MTS declined to 50.03%.
Mikhail Shamolin, President and Chief Executive Officer of Sistema, said: “In 2016, we completed a number of successful monetisation transactions with MTS shares in line with our strategy to further diversify Sistema’s investment portfolio. As MTS maintains leadership in the Russian telecommunications market, it also offers high shareholder returns. Sistema plans to remain the company’s controlling owner. The transaction we are announcing today generates additional resources for Sistema and allows us to continue investing in new promising projects in the Russian market.”
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