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Russia's Sistema plans no sale of MTS stake after row with Rosneft -Ifax
August 30, 2017 / 3:18 PM / 22 days ago

Russia's Sistema plans no sale of MTS stake after row with Rosneft -Ifax

The logo of Russian conglomerate Sistema is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russian business conglomerate Sistema (SSAq.L) said on Wednesday it has no plans to sell shares in mobile operator MTS (MBT.N), the Interfax news agency reported.

Sistema is considering various options of raising funds, including borrowing from banks, Interfax quoted Mikhail Shamolin, the company’s chief executive officer, as saying.

Sistema’s statement was made after a court ruled last week that Sistema should pay Russian state oil producer Rosneft (ROSN.MM) 136.3 billion roubles ($2.3 billion) to settle a claim that oil producer Bashneft (BANE.MM), controlled by Rosneft, was stripped of assets when Sistema was the owner.

Earlier on Wednesday, Sistema said it had asked the court to partially lift a freeze on its assets after it was ordered to pay less in damages to Rosneft than it had sought.

Reporting by Denis Pinchuk; Writing by Dmitry Solovyov; Editing by Maria Kiselyova

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