Sistema
 | |
Native name | АО АФК Система |
|---|---|
| Company type | Public (OAO) |
| Industry | Conglomerate |
| Founded | 1993 |
| Headquarters | Moscow , Russia |
Key people | |
| Products | |
| Revenue | $12.3 billion[1] (2023) |
| $1.37 billion[1] (2023) | |
| −$62.4 million[1] (2023) | |
| Total assets | $27.7 billion[1] (2023) |
| Total equity | $1.74 billion[1] (2023) |
Number of employees | 70,000 |
| Subsidiaries | |
| Website | www |
AFK Sistema PAO is a large Russian conglomerate company, headed by Vladimir Yevtushenkov. In March 2020, Yevtushenkov controlled 59.2% of the shares in Sistema.[2]
Sistema has its headquarters in Moscow. The company's Global Depository Receipts (GDRs) are traded on the London Stock Exchange (ticker symbol LSE: SSA).
Structure
Sistema operates a number of consumer service businesses in the areas of:
- IT and telecoms — Mobile TeleSystems, Moscow City Telephone Network, SkyLink
- Microelectronics — Sitronics (formerly known as 'Science Center Concern'), NIIME, Mikron, STROM telecom.
- Banking — MTS Bank
- House-Building — Sistema-Hals
- Retail — Detsky Mir Group
- Media — Sistema Mass Media
- Pharmaceuticals — Binnopharm
- Other businesses — Intourist (Travel Services), RTI Systems (Radio and space technology), Olympic Sistema (Sport)
- Kronstadt Group
Bashneft interest seizure and Rosneft lawsuit
In 2014, 72% of Sistema's interest in Bashneft was seized by the Russian government.[3][4]
On May 3, 2017, Sistema shares plunged about 37% following a $1.9 billion lawsuit filed by Rosneft.[5]
On 15 May 2017, the Arbitration Court of Bashkortostan registered a RUB 106.6bn claim filed by Rosneft and Bashneft against Sistema, a preliminary hearing of the case was scheduled for 6 June, Irina Nurislamova was appointed as a judge for the case.[6][7]
In December 2017, AFK Sistema reached an amicable agreement with Rosneft and agreed to pay out 100 billion roubles ($1.7 billion) to resolve the dispute.[8]
References
- ^ a b c d e "Консолидированная финансовая отчетность специального назначения за 2023 год" (PDF) (in Russian). Sistema. 8 April 2024. p. 59. Retrieved 8 April 2024.
- ^ Source: http://www.sistema.com/section.html?s=143
- ^ Natasha Doff and Ksenia Galouchko (December 18, 2014). "Sistema Shares Soar as Putin Says Evtushenkov Charges Not Proven". No. Bloomberg Business News. Bloomberg News. Retrieved December 27, 2014.
Russia has seized 71.6 percent of OAO Bashneft from Sistema since ordering Evtushenkov's arrest on Sept. 16 in a money-laundering investigation linked to the state's sale of the oil company in the previous decade.
- ^ Steven Lee Myersand Jo Becker (December 26, 2014). "Even Loyalty No Guarantee Against Putin". The New York Times. The Times Company. Retrieved December 27, 2014.
Mr. Rakhimov's government privatized Bashneft, wilth most of its shares ending up in the hands of a company called Bashkir Capital
- ^ "Sistema shares plunge a third after $1.9 billion Rosneft lawsuit". Reuters. Moscow. 2017-05-03. Retrieved 2017-05-04.
- ^ Предварительное заседание суда по иску «Роснефти» к АФК «Система» назначено на 6 июня — Ведомости (in Russian)
- ^ «Система» не признала обвинения «Роснефти» (in Russian)
- ^ https://www.reuters.com/article/us-russia-rosneft-sistema/russias-rosneft-reaches-1-7-billion-settlement-with-sistema-idUSKBN1EG1VR
External links
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