MTS to acquire Comstar-UTS

2009-08-20

The boards of directors of MTS and Sistema recently approved the purchase of a 50.91% stake in Comstar-UTS by an MTS subsidiary. The total value of the transaction will probably be $1.272bn. The Federal Anti-Monopoly Service (FAS) approved the transaction on 18 June 2009, but the acquisition will only go forward if Sistema’s shareholders agree to the transaction, and when MTS expresses its readiness to settle accounts.
The execution of the agreement is scheduled for the end of October.

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