OREANDA-NEWS.  November 05, 2014. Sistema JSFC ("Sistema") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, announces that it has signed a binding agreement with its subsidiary OJSC MTS Bank ("Bank") to acquire 2,474,818 ordinary shares of the Bank's additional share issue for RUB 9,460,684,754.

The deal is expected to close by the end of 2014 following fulfillment of all conditions as set out in the emission documentation.

Mikhail Shamolin, President and CEO of Sistema, commented: "Sistema's participation in MTS Bank's additional share issue contributes to the Bank's development, focused on maximising synergies with companies of the Group, stimulating expansion of its product line and investment in technological infrastructure".