OREANDA-NEWS. September 22, 2009. Vladimir Evtushenkov, the majority shareholder of Sistema, was cited by Kommersant and Vedomosti saying that a minority buyout in Comstar is possible, reported the press-centre of OTKRITIE FC.

View: On 1 October, an Extraordinary Shareholder meeting in MTS is due to approve the purchase of 51% of Comstar from Sistema, after which there might be an offer to minorities. No further details are available as of yet, however, in the absence of comments from MTS, this the first positive comment on a minority buyout to come from Sistema/MTS. We see 10% upside to a \\$5.98 likely buyout price.

Action: The stock went up 5% on Friday, and we expect positive reaction to the news to continue that trend.