Sistema Finance sells parts of MTS in the form of American Depositary Shares

Sistema PJSFC announces that its subsidiary, Sistema Finance S.A., sold 12.697.918 American Depositary Shares of PJSC MTS (“MTS”), representing 1.27% of MTS’s share capital, to a non-affiliated buyer for a consideration of USD 100.4 million*. The transaction was executed in compliance with U.S. Securities and Exchange Commission Rule 144. Following this transaction, Sistema Group owns 50.44% of MTS’s total share capital.  
Mikhail Shamolin, President and Chief Executive Officer of Sistema, said: “This transaction will help us to further strengthen Sistema’s investment resources and diversify its investment portfolio where MTS remains a core asset. It is fundamental that we have retained control in MTS, and we do intend to remain the operator’s controlling owner going forward. MTS continues to lead the Russian telecommunications market and we remain confident in the underlying strength of the company’s business model and its future performance”.
*Net of commission