Sistema continues MTS buy-back programme

Thursday 8 March 2018 | 15:52 CET | News

Russian telecommunications holding company Sistema, a controlling shareholder of mobile operator MTS, has announced that it is continuing with its programme to buy back shares in MTS. Sistema Finance, a subsidiary of Sistema, sold 3.054 million worth of MTS shares to Stream Digital, a subsidiary of MTS. 

The buy-back programme was approved by the management  board of MTS in April 2016 and will be effective until April 2019. The amount of the transaction was approximately RUB 0.93 billion.

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 ADS of MTS purchased by the purchaser in the open market in February in proportion to Sistema Group’s effective equity stake in MTS. 

As a result of implementation of the programme in February, Sistema Group's effective stake in MTS remained unchanged at 50.004 percent.

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