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June 21, 2019 www.intellinews.com I Page 4
acquired assets and entry prices, while large- scale investments are risky," Uralsib warns. Its analysts are alarmed by the persistent risk of delisting MTS ADRs in New York, but confirm
a Buy recommendation for the shares.
MTS, an anchor asset of AFK Sistema multi- industry investment conglomerate, posted 14% year-on-year net profit growth for the first quarter
of 2019. The bottom line was supported by organic growth, the consolidation of MTS Bank, and a real estate deal in Russia for an undisclosed amount.
Previously in the fourth quarter MTS posted solid results in both Russian and Ukraine, and pleased the market with dividend guidance promising over 10% dividend yield.
