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Sistema: $300 mln synergy if MTS has all of Comstar

Tue Oct 20, 2009 7:56am EDT

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(Corrects spelling of "should" in third paragraph)

MOSCOW, Oct 20 (Reuters) - Russia's MTS (MBT.N) would achieve synergies of more than $300 million if it fully consolidates Comstar (CMST.MM), Sistema (SSAq.L), the parent of both the companies, said in a presentation on Tuesday.

MTS, Russia's top mobile operator, bought a 51 percent stake in the fixed-line telecom operator from Sistema for 39.15 billion roubles ($1.32 billion) this month. [ID:nLD332539]

The company has yet to decide whether to make a buyout offer to Comstar's minority shareholders. Its purchase of the 51 percent stake should generate synergies with a net present value of more than $200 million, MTS said on Monday. [ID:nLJ13443] (Reporting by Anastasia Teterevleva; writing by Maria Kiselyova; editing by Alfred Kueppers)



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