Russia's Sistema plans no sale of MTS stake after row with Rosneft -Ifax
Reuters
Published Aug 30, 2017 11:18AM ET
Russia's Sistema plans no sale of MTS stake after row with Rosneft -Ifax
MOSCOW (Reuters) - Russian business conglomerate Sistema (L:SSAq) said on Wednesday it has no plans to sell shares in mobile operator MTS (N:MBT), the Interfax news agency reported.
Sistema is considering various options of raising funds, including borrowing from banks, Interfax quoted Mikhail Shamolin, the company's chief executive officer, as saying.
Sistema's statement was made after a court ruled last week that Sistema should pay Russian state oil producer Rosneft (MM:ROSN) 136.3 billion roubles ($2.3 billion) to settle a claim that oil producer Bashneft (MM:BANE), controlled by Rosneft, was stripped of assets when Sistema was the owner.
Earlier on Wednesday, Sistema said it had asked the court to partially lift a freeze on its assets after it was ordered to pay less in damages to Rosneft than it had sought.
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Written By: Reuters
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