Companies@UA: База компаний Украины

Moscow. August 5 (Interfax) - The board of directors at AFK Sistema on Wednesday approved the terms of an offer from Mobile TeleSystems (MTS) on the purchase of Sistema's 50.91% stake in Comstar-United TeleSystems for $1.272 billion, or $5.98 per share.

The Sistema board also called an extraordinary general meeting for October 1 at which shareholders will be asked to approve the deal, Sistema said in a statement.

The transaction is contingent on several conditions, including MTS raising financing for the purchase. If all the conditions are met, the deal is expected to be finalized before the end of October 2009.