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. Last Updated: 07/27/2016

Yevtushenkov Says Sistema Eyeing Assets

DAVOS, Switzerland -- Services conglomerate Sistema has secured financing facilities with Russian and foreign banks for several billion dollars and is eyeing a range of deals, billionaire Vladimir Yevtushenkov, its main shareholder, said Friday.

"We plan some purchases and this is the right course so that the group becomes stronger during the crisis," Yevtushenkov said.

When asked whether the purchases included assets in the republic of Bashkortostan, Yevtushenkov said: "We are talking not only about the Bashkir assets. I can tell you that for sure.

"We are talking about a whole range of different assets. The Bashkir assets that we are looking at are just a part of what we have long been working on."

Sistema bought blocking stakes in several Bashkir oil producing, refining and retail assets in 2005 for about $600 million and has said it hopes to win control of the assets.

"We are working in a whole range of directions, both in getting financial resources and in restructuring some assets which could be sold. But I wont give you a list with all the names, prices and timeframes," he said with a smile.

Sistema's main asset is Mobile TeleSystems. Its public assets also include fixed-line provider Comstar, developer Sistema-Hals and high-tech firm Sitronics.

Sistema's debts totaled $9.4 billion at the end of the third quarter 2008.