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MTS Takes Over Comstar-UTS

Sistema Group and the CIS announced it completed the sale of a 50.91% stake in Comstar-UTS to Mobile TeleSystems

October 13, 2009

1 Min Read

MOSCOW -- Sistema Group (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced that on October 12, 2009 it completed the sale of a 50.91% stake in Comstar-UTS to Mobile TeleSystems (“MTS”) for a total consideration of RUB 39.15 billion (approximately US$ 1.32* billion) or RUB 184.02 (approximately US$ 6.21) per ordinary share. As the result of this transaction Sistema Group’s total shareholding in Comstar-UTS was transferred to MTS.

Sistema JSFC (London: SSA)

Comstar United Telesystems JSC (London: CMST)

Mobile TeleSystems OJSC (MTS) (NYSE: MBT)

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