Reuters: Technology News: Russia's MTS acquires stake in parent's bank

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Russia's MTS acquires stake in parent's bank Mar 29th 2013, 12:29 Tweet Share this Email Print Related News Russian bidders offer up to $4.25 billion for Tele2 assets Thu, Mar 28 2013 CORRECTED-UPDATE 3-Russia's VTB says Tele2 a done deal despite challenge Thu, Mar 28 2013 Deals of the day -- mergers and acquisitions Thu, Mar 28 2013 Sweden's Tele2 exits Russian mobile market Wed, Mar 27 2013 UPDATE 3-Rostelecom names Kremlin-backed Kalugin new CEO Wed, Mar 27 2013 Analysis & Opinion Telecom companies woo women with angel stores Will Putin attempt a last-minute Cyprus rescue? Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » A man walks past an MTS shop in St.Petersburg March 18, 2013. Credit: Reuters/Alexander Demianchuk MOSCOW | Fri Mar 29, 2013 8:29am EDT MOSCOW (Reuters) - Russia's top mobile phone operator MTS said on Friday it has acquired a 25.1 percent stake in MTS Bank for 5.1 billion roubles ($164 million) by buying additional shares issued by the bank. The deal was concluded in accordance with the terms of an indicative offer between MTS, MTS Bank and their majority shareholder Sistema that were announced in October 2012. MTS now owns around 27 percent of MTS Bank, Sistema has a 65.3 percent stake, while the balance of shares is held by other minority shareholders, MTS said in a statement. ($1 = 31.0844 Russian roubles) (Reporting by Maria Kiselyova; Editing by Douglas Busvine) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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