MTS are willing to spend 10 billion rubles for the redemption of their shares – RBC

mobile operator MTS has started the implementation of the program of redeeming of own shares until the end of 2016, intends to spend up to 10 billion rubles, follows from the message of the company.

of this amount, up to 4,934 billion rubles can be paid by the company the “stream digital” (100% “daughter” MTS) for ordinary shares and American Depositary shares (ADSS) MTS total volume to 1.24% of the share capital of the company. Those who wish to sell their securities to the shareholders of MTS can self-apply. Preliminary range of prices at which shares may be redeemed, is in the range from 199 to 229 RUB. per share.

Simultaneously, the MTS has agreed with its main shareholder AFK “System” on the purchase of up to 25,454 million shares representing 1,27% of the share capital of MTS, up to a total of 5,065 billion rubles.

the Exact number of the redeemed at AFK “System” shares will be determined after summarizing the implementation of the program for redemption of MTS shares from minority shareholders so that the effective share of AFK “Sistema” in the capital of MTS did not change significantly. While shares from the “System” will be purchased for the same price as minority shareholders.

“Deal, which we are announcing today will enable the company to attract additional investment resources, while maintaining an effective controlling stake in MTS, in accordance with our strategic priorities,” — said the President of AFK “Sistema” Mikhail Shamolin, whose words are in the message a press-services “Systems”.

In September 2016, the “System” has sold 12.7 million American Depositary shares of MTS (1,27% stake in mobile operator) for $ 100,4 million While AFC has retained control of the operator: now, the group’s share in the Charter capital of MTS is to 50.44%.