Mobile TeleSystems PJSC (NYSE:MBT; MOEX: MTSS), the leading telecommunications provider in Russia, Central and Eastern Europe, announces that it has signed a binding agreement with MTS Bank PJSC ('MTS Bank'), through which it will acquire 946,347 ordinary shares of the Bank's additional shares issuance for RUB 1.3 bln. Upon completion of the transaction, MTS's ownership stake in the bank will remain 26.4%.

Earlier today, Sistema JSFC ('Sistema' - LSE: SSA), a publicly-traded diversified holding company and largest shareholder of both MTS and MTS Bank, has similarly announced the signing of a binding agreement with MTS Bank to acquire 2,641,957 ordinary shares of the Bank's additional shares issuance for RUB 3.7 bln. Thus, Sistema and MTS are participating in the additional share issuance of MTS bank in proportion to their current direct ownership stakes.

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For further information, please contact in Moscow:

Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru

Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/

MTS - Mobile TeleSystems OJSC issued this content on 10 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 February 2016 08:19:50 UTC

Original Document: http://www.mtsgsm.com/news/2016-02-10-94384