MOSCOW Oct 25 Russian services conglomerate
Sistema said its mobile unit MTS would acquire
a one-quarter stake in Sistema's MTS-Bank for up to 5.09 billion
roubles ($162.51 million).
Under the terms of an indicative offer, signed on Thursday,
MTS would acquire up to 25.095 percent of shares in MTS Bank
through an additional share issue by MTS Bank, Sistema said in a
"The acquisition of a stake in MTS Bank by MTS will unlock
synergies between financial and mobile services," said Mikhail
Shamolin, the chief executive officer of Sistema.
The proceeds from the transaction will be added to MTS
Bank's charter capital. As a result of the deal, Sistema's
direct stake in MTS Bank will be 65.3 percent.