Release date- 27082015 - Moscow, Russia - Sistema JSFC
('Sistema' or the 'Company', together with its subsidiaries, 'the Group') (LSE: SSA), a publicly-traded diversified holding company operating primarily in Russia and the CIS, today announces its unaudited consolidated IFRS financial results for the second quarter ended June 30, 2015.
(4) its sustainable operating performance and cash flow generation; (5) the reduced risk of controlling shareholder Sistema JSFC
raising its cash requirements from MTS; (6) MTS's leading position in the Russian mobile market, supported by its extensive mobile data network and retail network; (7) its integrated business model and strong position in the fixed-line broadband and pay-TV market in Russia; and (8) its fairly low churn rate.
Sistema revealed some of the financial results for Q1 2013.
"The affirmation reflects tangible support from Sitronics's parent JSFC
Sistema ('BB-', Positive) and its significant financial exposure to this subsidiary.
SST is a 74:26 joint venture company between Russia's Sistema JSFC
and India's Shyam Group.
24 September 2014 - Russian diversified holding company Sistema JSFC
(LON:SSA) said today it had abandoned its planned acquisition of the 98% not already held in OJSC United Petrochemical Co (UPC) from its unit JSOC Bashneft (MCX:BANE).
The company's exposure to parent JSFC
Sistema's (MCX:AFKC) group-wide risks, which are connected with the lower credit quality of Sistema's other subsidiaries, and the possible influence of Sistema on MTS's capital structure are viewed by Fitch as a significant credit constraint, the agency elaborated.
10 September 2014 - Russia's largest publicly-traded holding company JSFC
Sistema (OTCMKTS:JSFCF) said it had agreed to offload its minority stake in domestic children's goods seller JSC Detsky mir to the Russia-China Investment Fund (RCIF).
In our view, they grew on strong JSFC
Sistema's last-year results and investors' understandable wish to see the spread between the parent company and its subsidiaries at a much lower level.