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Russia’s MTS says work not baffled by Yevtushenkov’s arrest

Vladimir Yevtushenkov controls MTS’s main shareholder, multi-industry holding AFK Sistema

MOSCOW, September 17. /ITAR-TASS/. Operating activities of Russian cellular operator MTS group have not been affected by an investigation regarding Vladimir Yevtushenkov, who controls MTS’s main shareholder, multi-industry holding AFK Sistema, the operator’s press office said Wednesday.

AFK Sistema owns 51.46% in MTS, while the remainder is in free float, according to information on its website.

Yevtushenkov, whose fortune is estimated by Forbes at $9 billion, was put under house arrest on Tuesday under a case of illegal privatization of oil and gas companies of the Bashkortostan republic in 1990s.

AFK Sistema said that the deals concluded by Yevtushenkov were legal and transparent.

Quotes of MTS’ common shares on the Moscow Exchange plunged 8.12% to 271.41 rubles as of 1.40pm Moscow time. The market capitalization stood at 562 billion rubles.