print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line

Get updates

Home  Issuers' Corner  Press Releases  Financial Corporation "Sistema" REGISTER LOG IN

Press Releases > Financial Corporation "Sistema"  all about the company

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

October 31, 2016

Sistema to sell up to 1.27% of MTS shares in connection with tender offer

Moscow, Russia– October 31, 2016. Sistema PJSFC (“Sistema” or “the Corporation”") (LSE: SSA; MOEX: AFKS), a Russian public diversified holding company, announces that it has signed a binding sale-and-purchase agreement for shares of PJSC MTS (“MTS”) in connection with the tender offer to purchase MTS shares (“the Tender Offer”) by MTS’s subsidiary Stream Digital, LLC (“the Purchaser”).

Under the agreement, the Corporation will sell to the Purchaser up to 25,454,636 ordinary shares of MTS (up to 1.27% of the company’s issued share capital), for a consideration of up to RUB 5,065,472,700. The precise number of shares for the purpose of the transaction will be calculated on the basis of the number of shares that will be sold by minority shareholders of MTS under the Tender Offer*, in proportion to Sistema Group’s effective share** in the share capital of MTS as of 31 October 2016 (50.65%). The transaction will be carried out at a price equal to the single strike price at which MTS’s minority shareholders will sell the company’s shares under the Tender Offer. The transaction is subject to the Purchaser’s successful completion of the Tender Offer.

Sistema Group’s effective share of the share capital of MTS will thus not change materially as a result of the sale of shares of MTS by the Corporation and the completion of the Tender Offer.

Sistema President Mikhail Shamolin said: “Sistema welcomes the launch of MTS’s share repurchase programme, which will further increase shareholder returns and strengthen the company’s investment case. The transaction we are announcing today will allow the Corporation to raise additional funds for investments, while retaining its effective controlling stake in MTS, which is in line with our strategic priorities.”

*The number of shares accepted by the Purchaser under the Tender Offer
**Percentage of issued share capital calculated excluding MTS shares owned by subsidiaries of MTS


For further information, please visit www.sistema.ruor contact:

Investor Relations

Yuri Krebs

Tel.: +7 (495) 730 66 00

Press service

Sergei Kopytov

Tel.: +7 (495) 228 15 32



Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index


Site Map
Privacy Statement | Disclaimer