OREANDA-NEWS. 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".

Sistema is the largest publicly-traded diversified holding company 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 8.8 billion for the second quarter of 2014, and total assets of USD 45.2 billion as at June 30, 2014. 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 Moscow Exchange. Sistema was ranked number 308 in the 2013 edition of the Fortune Global 500 list.