Bloomberg News

Sistema Shares Jump Most Since 2010 on Buyback, MTS Pares Loss

October 03, 2011

Oct. 3 (Bloomberg) -- AFK Sistema jumped the most since January 2010 and OAO Mobile TeleSystems pared losses after billionaire Vladimir Yevtushenkov’s holding company announced a $100 million share buyback.

Sistema surged as much as 9.4 percent and closed up 8.3 percent at 22.21 rubles at 6:45 p.m. in Moscow. Mobile TeleSystems, Russia’s biggest mobile phone operator, which Sistema controls, pared losses of as much as 3.6 percent to close down 0.3 percent at 176.94 rubles.

Sistema will immediately start buying its own ordinary shares and global depositary receipts as is considering the purchase of ordinary shares and American depositary receipts of Mobile TeleSystems, according to a regulatory filing today. Sistema does not plan to cancel the stock, according to the statement.

--Editors: Alex Nicholson, Peter Branton

To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.


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