OREANDA-NEWS. Sistema shareholders - physical persons - announced today their willingness to reimburse MTS from their own funds for potential losses arising from realization of option agreement to buy 49% of shares of Bitel LLP.

JSC MTS, a subsidiary of JSFC Sistema, has received what is purported to be a notice from Nomihold Securities Inc. pursuant to a put option agreement connected with the acquisition of the remaining 49% shares of Tarino Limted and its direct and indirect subsidiaries for the purpose of transferring for $170 million the remaining interest in Bitel LLP, a Kyrgyz mobile operator, to MTS. 

The shareholders of Sistema further stated that should a dispute arise with respect to the put option, the shareholders will assist MTS in defending its rights, but if any arbitration award is eventually entered against MTS, the shareholders will indemnify MTS for such award.