Sistema Finance sells 1.45% of MTS in the form of American Depositary Shares

Sistema JSFC announces that on 23 June 2016 its subsidiary, Sistema Finance S.A., sold 14.965.592 American Depositary Shares of PJSC MTS (“MTS”), representing 1.45% of MTS’s share capital, to a non-affiliated buyer for a consideration of USD 123.5 million. The transaction was executed in compliance with U.S. Securities and Exchange Commission Rule 144. Following this transaction, Sistema Group owns 50.01% of MTS’s total share capital.
Mikhail Shamolin, President and Chief Executive Officer of Sistema, commented: “MTS is a strategic asset for Sistema, we are confident in the outlook for growth of its market value, and we consider it fundamentally important that Sistema remains MTS’s controlling owner. At the same time, this transaction will make an important contribution toward achieving Sistema’s strategic objectives of further diversifying its portfolio, expanding its investments in new projects and optimising its capital structure.”