Mobile TeleSystems to acquire the remaining 70% stake in Sistema Capital from Sistema for $48m.

Mobile TeleSystems, the largest mobile network operator in Russia, agreed to acquire the remaining 70% stake in Sistema Capital, an asset management firm, from Sistema, a large Russian conglomerate company, for $48m. Sistema Capital Management Company is a professional member of the securities market that has been providing asset management services for individual and corporate customers since 2001. The company offers financial products to individual and corporate customers. In 2021, the Expert RA ratings agency confirmed Sistema Capital’s rating at A++ with a ‘stable’ outlook.