OREANDA-NEWS. December 19, 2007. "COMSTAR - United TeleSystems JSC" (LSE: CMST) today announced that the transfer of rights and receipt of payment in relation to the  previously announced exercising of the call option by Access Telecommunications Cooperatief U.A. (.Access.) was completed on December 18, 2007. Access, thereby, became a shareholder in Comstar by acquiring 46,232,000 Comstar shares from Comstar subsidiary MGTS Finance S.A. for US$ 6.97 per share and a total cash consideration of US$ 322.2 million. The purchased shares represent 11.06% of the total number of ordinary Comstar shares in issue. The call option was originally issued by MGTS Finance S.A. to 2711 Centerville Cooperatief U.A. in part payment for the acquisition of a 25% + 1 share stake in Telecommunications Investment company .Svyazinvest. in December 2006. Access retains a put option to sell the shares back to MGTS Finance S.A. at any time over the next twenty four months, at the trailing ninety trading day weighted average price of the Comstar Global Depositary Receipt.