OREANDA-NEWS. July 15, 2011. JSFC Sistema (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that it has completed the sale of its 63.074% stake in OJSC SITRONICS to OJSC RTI as per the earlier announced terms.

In February 2011, Sistema established OJSC RTI with the Bank of Moscow, which invested RUB 3 billion (approximately USD  100 million) of cash into the new entity. Sistema’s contribution to the new entity’s charter capital amounted to its 97% stake in OJSC Concern RTI Systems and RUB 2.88 billion (approximately USD  97 million) in cash. As a result, Sistema holds 84.6% of the share capital of OJSC RTI with 15.4% belonging to the Bank of Moscow.

Sistema is the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of USD  7.8 billion for the first quarter of 2011, and total assets of USD  46 billion as at March 31, 2011. Sistema’s global depository receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the symbol “AFKS” on the RTS Stock Exchange, under the symbol “AFKC” on the MICEX Stock Exchange, and under the symbol “SIST” on the Moscow Stock Exchange (MSE).