October 31, 2012 / 7:31 AM / 5 years ago

Russia's Sistema to buy 100 pct stake in Argos Group

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MOSCOW, Oct 31 (Reuters) - Russian oil-to-telecoms conglomerate Sistema said on Wednesday it has signed a non-binding agreement to buy a 100-percent stake in Argos Group, the largest independent group in the Western European downstream oil market.

Sistema, whose assets include Russia's top mobile phone operator MTS, mid-sized oil producer Bashneft and companies in high-tech, retail and healthcare sectors, would not reveal in a statement the price of the acquisition. (Writing by Lidia Kelly; Editing by Katya Golubkova)

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