Under the agreement, MTS is set to acquire up to 25.095 percent of shares in MTS Bank through an additional share issue by MTS Bank. The proceeds from the transaction will be added to MTS Banks charter capital. As a result of the deal, Sistemas direct stake in MTS Bank will be 65.3 percent.
In recent news, MTS has entered a partnership with On Track Innovations (OTI), a global contactless smart card services provider. Under terms of the agreement, MTS will employ OTI’s Contactless Payment and NFC Add-On (COPNI) mobile payment service for its near field communication (NFC) projects in Russia.
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