26 May 2017 12:16

MTS to pay dissenting shareholders 207 rubles per share, well below market

MOSCOW. May 26 (Interfax) - Shareholders in Mobile TeleSystems (MTS) will vote on merging a number of subsidiaries into the parent company - TP LLC, JSC Smarts Yoshkar-Ola and JSC Comstar KhMAO - at the AGM, under an item that the board of directors has included in the agenda for the meeting, MTS said in a statement.

Shareholders who vote against the mergers or abstain will be offered 207 rubles per share.

MTS shares are currently quoted at 242 rubles each on the Moscow Exchange .

All of the rights and responsibilities of the subsidiaries concerned will be transferred to MTS and their activity will cease.

The AGM will be held on June 29.