COMSTARCOMmon System for Technical Analysis and Reporting
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June 2010: MTS decided to increase its stake in Comstar in several steps:
825 ordinary shares in MTS for every share they own in Comstar, while those who did not back the move will have the right to dispose of the shares by selling them back to Comstar for RUB212.
Russian telecoms provider COMSTAR a[euro]" United TeleSystems (Comstar) (LSE:CMST) reported on Tuesday that mobile operator Mobile TeleSystems (MTS) (NYSE:MBT) has launched a voluntary tender offer to purchase up to 9% of Comstar's stock for RUB220 per share.
As e-mail has become a crucial element in the way COMSTAR interacts with its members, the credit union's IT personnel were charged with the task of choosing and deploying a solution that would maintain the constant availability of its Microsoft Exchange server infrastructure.
Comstar serves as the fixed-line unit of MTS (MBT - Buy), and will be fully merged into MTS in 1H11.
The offer comes after the boards of Comstar and MTS agreed on 25 June to combine the two companies.
The boards of directors of Mobile TeleSystems OJSC (MTS) (NYSE: MBT), a telecommunications provider in Russia and the CIS, and COMSTAR - United TeleSystems JSC (LSE: CMST), a supplier of integrated telecommunication solutions in Russia and the CIS, have approved and recommended the merger of MTS and Comstar.
The presence of the two buyout options for Comstar-UTS minorities provides additional value, particularly as both of the options imply a buyout above the current Comstar market prices.
Rostelecom is paying EUB18bn of the total to Comstar for its 17.
Viktor Koresh, general director of Comstar-Regions, said that Comstar plans to continue acquiring shares in RTC from minority shareholders.