Sistema

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]

For other uses, see Sistema (disambiguation).
OJSC JFSC Sistema
Native name
АО АФК Система
Public (OAO)
Traded as
ISINRU000A0DQZE3 
IndustryConglomerate
Founded1993 (1993)
FounderVladimir Yevtushenkov 
Headquarters
Moscow
,
Russia
Key people
Products
Revenue₽709 billion[1] (2019)
₽86.4 billion[1] (2019)
₽57.6 billion[1] (2019)
Total assets₽1.26 trillion[1] (2019)
Total equity₽65.7 billion[1] (2019)
Number of employees
70,000
Subsidiaries
Websitewww.sistema.com

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
  • Other businesses — Intourist (Travel Services), RTI Systems (Radio and space technology), Binopharm (Pharmaceuticals), 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]

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References
  1. https://sistema.com/upload/iblock/447/44775fe920c2063168c7abad86db4c6c.pdf.
  2. Source: http://www.sistema.com/section.html?s=143
  3. Natasha Doff and Ksenia Galouchko (December 18, 2014). "Sistema Shares Soar as Putin Says Evtushenkov Charges Not Proven" (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.
  4. 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
  5. Reuters (2017-05-03). "Sistema shares plunge a third after $1.9 billion Rosneft lawsuit". Moscow. Retrieved 2017-05-04.
  6. Предварительное заседание суда по иску «Роснефти» к АФК «Система» назначено на 6 июня — Ведомости (in Russian)
  7. «Система» не признала обвинения «Роснефти» (in Russian)
  8. https://www.reuters.com/article/us-russia-rosneft-sistema/russias-rosneft-reaches-1-7-billion-settlement-with-sistema-idUSKBN1EG1VR
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