Dec 22 Sistema says:
* Sistema subsidiary, Sistema Finance S.A., sold 6,248,227
American Depositary Shares of MTS (Mobile TeleSystems)
, representing 0.63 percent of MTS's share
capital, to a non-affiliated buyer for a consideration of
$55.359 million net of commission.
* Following this transaction, Sistema Group's effective
share in the share capital of MTS, including shares owned by
Sistema through its subsidiaries, declined to 50.03 percent from
around 50.66 percent.
* Sistema plans to remain the company's controlling owner.
* Mikhail Shamolin, President and Chief Executive Officer of
Sistema, said: "The transaction ... generates additional
resources for Sistema and allows us to continue investing in new
promising projects in the Russian market."
Source text for Eikon:
Further company coverage:
(Reporting by Moscow Newsroom)