OREANDA-NEWS. October 26, 2010. Svyazinvest hereby announces the completion of a transaction to exchange assets between the Svyazinvest Group and AFK Sistema Group.

Svyazinvest assigned to Sistema Inventure, a subsidiary of AFK Sistema, a 28% equity stake of common shares in MGTS (23.3% of the charter capital of MGTS) in exchange for a 50% stake of common shares in Sky Link, which, including indirect ownership amounts to 100% of the charter capital of Sky Link, and cash payment equal to RUR 450 mln in order to compensate for the difference in value of the swapped assets.

This transaction is associated with the acquisition by Rostelecom of a 25% + 1 share stake in Svyazinvest from Comstar-UTS and MGTS Finance S.A. for RUR 26 bln.

Renaissance Capital acted as the financial advisor for the transaction.

Acquiring control over Sky Link will allow the Svyazinvest Group to gain access to Russia’s most developed mobile datacom network and enter the Moscow wireless market.