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Disappointing MTS share buyback stops Sistema stake dropping below 50%

Connectivity BusinessbyConnectivity Business
December 15, 2016
in Financing, Space Services
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Russia’s largest mobile operator Mobile TeleSystems (MTS) will buy back just a fraction of the shares it had planned in a tender offer that attracted weak demand from investors, preventing controlling shareholder Sistema from reducing its holding to less than 50%. MTS had aimed to repurchase up to Rbs10bn (US$157.7m) of its shares from local conglomerate Sistema and smaller investors, […]

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Tags: Credit SuisseEuropeMTSPremiumSistemaTF251
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