Russian operator MTS has added some items on a reorganisation of the group to the agenda of the extraordinary shareholders meeting planned for 30 August. These include a proposal to separate the company’s passive infrastructure (towers and related assets) into a wholly-owned subsidiary called Tower Infrastructure Company (TIC) and the separation of a significant share of the company’s active network and digital infrastructure (fixed, data centre and cloud computing) into the entity, MWS-1. If approved, MWS-1 would then be integrated into the company’s existing wholly-owned subsidiary MTS Web Services.
The board also decided that owners of MTS ordinary shares voting against the above items or those who abstain from voting will be eligible to submit their shares for buyback at the price of RUB 326.73 per ordinary share. This price is based on the weighted average trading price over the six months prior to the board’s decision to call the meeting.
