OREANDA-NEWS. "COMSTAR - United TeleSystems" OJSC ("Comstar UTS" or "The Group") (LSE: CMST),  the leading provider of integrated communications services in Moscow, today announced the acquisition of a blocking stake 25% plus one share in Telecommunication Investment Joint Stock Company (Svyazinvest) from Mustcom Limited for a total cash  consideration of US$ 1.3 billion.

In a series of transactions, Comstar UTS and MGTS Finance S.A., a company controlled by Comstar UTS, have jointly acquired 4,879,584,306 ordinary shares of Svyazinvest, with Comstar UTS buying 3,378,173,750 shares, which represent 17.3% of total outstanding shares, and MGTS Finance S.A. purchasing 1,501,410,556 shares, representing 7.7% of total outstanding shares.