Comstar United Telesystems http://www.alacrastore.com/company-snapshot/Comstar_United_Telesystems-3758922 08 Nov 2009 11:07:33 EST 3758922 Comstar United Telesystems en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/research/s-and-p-credit-research-Comstar_United_TeleSystems_And_Moscow_City_Telephone_Network_Off_Watch_Affirmed_At_BB_ruAA_Outlook_Stable-755509755509spcred/755509normglobal05 Nov 2009 04:30:00 EST100Ratings ActionThe latest Ratings Action from S&PRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaGlobal IssuersRatings ActionRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RUNEWSRATING_ACTIONCORPGLOBISSLEVFINTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/research/s-and-p-credit-research-Research_Update_Comstar_United_TeleSystems_And_Moscow_City_Telephone_Network_Off_Watch_Affirmed_At_BB_ruAA_Outlook_Stable-755510755510spcred/755510normglobal05 Nov 2009 04:30:00 EST175Research UpdateThe latest Research Update from S&PRussiaAlternative CarriersEmerging MarketsGlobal IssuersResearch UpdateRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RURESUPDRUS60740950101020 501010 5010 5050102010 501020 5010 50Mobile TeleSystems (OJSC)Moscow City Telephone Network (JSC)317913344344EMERGINGEUROMIDAFRMGTS@RUMTSI@RMCORPGLOBISSHighLEVFINTelecommunicationsEurope, Middle East, AfricaCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_188921_809656271PR_188921_809656271moodys/PR_188921_809656271html27 Oct 2009 04:31:38 ESThtmlComstar United TelesystemsMegaFon OJSCMobile TeleSystems OJSCMoscow City Telephone Network (MGTS) (PJSC)OAO Southern Telecomunications CompanyTelenor ASAVimpel-Communications OJSCComstar United Telesystems; MegaFon OJSC; Mobile TeleSystems OJSC; ...809656271600018165600036670600061056600064506807604750807668274809656271150.000026 Oct 2009NewsAnnouncementCGlobal Credit Research Announcement ## OCT #### Announcement: Comstar United Telesystems Moody's: Russian Telcos' Ratings Remain Impacted by Outside Factors Despite Strong Credit Metrics London, ## October #### -- Although Russian...Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_189151_809656271PR_189151_809656271moodys/PR_189151_809656271html27 Oct 2009 04:31:38 ESThtmlComstar United TelesystemsMobile TeleSystems OJSCMoscow Bank for Reconstruction & DevelopmentMoscow City Telephone Network (MGTS) (PJSC)Sistema Capital S.A.Sistema Joint Stock Financial CorporationSitronics JSCComstar United Telesystems; Mobile TeleSystems OJSC; ...809656271600036670600061056600063615806864651807893606809212704809656271150.000026 Oct 2009NewsRating ActionCGlobal Credit Research Rating Action ## OCT #### Rating Action: Comstar United Telesystems Moody's places Sistema's ratings on review for upgrade. London, ## October #### -- Moody's Investors Service has today placed the B# corporate...Credit & Investment ResearchMoody's Global Credit ResearchRUSSIA - OOO "Operator Svyazi" acquired a ##.##% stake, or ###.### mil ordinary shares, in OAO "Komstar-Obyedinennye TeleSistemy", a Moscow-based provider of telecommunication services, from OAO AFK Sistema, in a privately negotiated transaction.15 Oct 2009 08:23:49 EST63721M20568F63721M00823YOOO "Operator Svyazi"OAO "Komstar-Obyedinennye TeleSistemy"OOO "Operator Svyazi"OAO AFK Sistemahttp://www.alacrastore.com/storecontent/Thomson_M%26A/Operator_Svyazi_acquires_a_minority_stake_in_OAO_Komstar_Obyedinennye_from_OAO_AFK_Sistema-2117689040sdc/21176890402117689040Copyright © 2009, Thomson Financial, All Rights ReservedTelecommunicationsRussian FedRadiotelephone communications4812FFForeignPrivate4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, necLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST1110829001Pvd telecommun svcsPvd telecommun svcsUnspecifiedOrdinary Share464808005Oct 15 20090.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.00000OOO "Operator Svyazi", locatedin Moscow, Russia, providestelecommunication services.OOO "Operator Svyazi", located in Moscow, Russia, providestelecommunication services.OOO "Operator Svyazi", located in Moscow, Russia, provides telecommunication services.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO "Komstar-ObyedinennyeTeleSistemy", located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO "Komstar-Obyedinennye TeleSistemy", located in Moscow,Russia, provides integrated telecommunication servicesranging from voice and data transmission to broadbandInternet access and CATV, call centers, and VPNs, in theMoscow region. The company was founded in 2004.OAO "Komstar-Obyedinennye TeleSistemy", located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.0.000000.000000.00000417.94000N13 Oct 09Tue, 13 Oct 2009 00:00:00 ESTDate Announced: 10/13/200913 Oct 09Date Effective: 10/13/200913 Oct 09Acq. Part. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.0000037.1600037.160000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.0000037.160000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000RUSSIA - OOO "OperatorSvyazi" acquired a 37.16%stake, or 155.306 milordinary shares, in OAO"Komstar-ObyedinennyeTeleSistemy", a Moscow-basedprovider of telecommunicationservices, from OAO AFKSistema, in a privatelynegotiated transaction.RUSSIA - OOO "Operator Svyazi" acquired a 37.16% stake, or 155.306 mil ordinary shares, in OAO "Komstar-Obyedinennye TeleSistemy", a Moscow-based provider of telecommunication services, from OAO AFK Sistema, in a privately negotiated transaction.RUSSIA - OOO "Operator Svyazi" acquired a 37.16% stake, or 155.306 mil ordinary shares, inOAO "Komstar-Obyedinennye TeleSistemy", a Moscow-based provider of telecommunicationservices, from OAO AFK Sistema, in a privately negotiated transaction.RUSSIA - OOO "Operator Svyazi" acquired a 37.16% stake, or 155.306 mil ordinary shares, in OAO "Komstar-Obyedinennye TeleSistemy", a Moscow-based provider of telecommunication services, from OAO AFKSistema, in a privately negotiated transaction.RUSSIA - OOO "Operator Svyazi" acquired a 37.16% stake, or 155.306 mil ordinary shares, in OAO "Komstar-Obyedinennye TeleSistemy", aMoscow-based provider of telecommunication services, from OAO AFK Sistema, in a privately negotiated transaction.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services1110829001Russian Fed4812ForeignPrivate3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managers625763002LondonRussian Fed4813ForeignPublicSSA0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/moodys/PR_188519_809656271PR_188519_809656271moodys/PR_188519_809656271html15 Oct 2009 04:57:35 ESThtmlComstar United TelesystemsMobile TeleSystem Finance S.A.Mobile TeleSystems OJSCSistema Capital S.A.Sistema Joint Stock Financial CorporationComstar United Telesystems; Mobile TeleSystem Finance S.A.; Mobile TeleSystems OJSC; ...600061056600062343600063615806864651809656271150.000014 Oct 2009NewsRating ActionCGlobal Credit Research Rating Action ## OCT #### Rating Action: Comstar United Telesystems Moody's confirms ratings of MTS (CFR Ba#) and Comstar (CFR Ba#) following completion of acquisition; outlooks stable London, ## October ####...Credit & Investment ResearchMoody's Global Credit ResearchCYPRUS - OAO Komstar- Obyedinennye TeleSistemy of Russia, a unit of OAO AFK Sistema was rumored to be planning to acquire the entire share capital of Teleset Networks PCL, a Nicosia-based provider of telecommunications services.25 Sep 2009 08:00:09 EST20568F88205P00823Y88205POAO Komstar-Obyedinennye TeleSistemyTeleset Networks PCLOAO AFK SistemaTeleset Networks PCLhttp://www.alacrastore.com/storecontent/Thomson_M%26A/OAO_Komstar_Obyedinennye_is_rumored_to_be_planning_to_acquire_Teleset_Networks_PCL-2111036040sdc/21110360402111036040Copyright © 2009, Thomson Financial, All Rights ReservedLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managersLondonTelecommunicationsCyprusTelephone communications, except radiotelephone4813FFForeignPublicTNW464808005Pvd telecommun svcsPvd telecommun svcsNot ApplicableOrdinary Share19324002Sep 25 20090.3190022.5950013.5420013.542009.981006.101005.267000.0000050.209000.421000.6090010.106000.046007.221009.7930025.087007.8050093.76800RR31 Mar 090.00000103.153000.000001180.790003432.96900Russian Rouble31 Dec 0831 Dec 0831 Dec 0731 Dec 0631 Dec 0531 Dec 040.033001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO Komstar-ObyedinennyeTeleSistemy, located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO Komstar-Obyedinennye TeleSistemy, located in Moscow,Russia, provides integrated telecommunication servicesranging from voice and data transmission to broadbandInternet access and CATV, call centers, and VPNs, in theMoscow region. The company was founded in 2004.OAO Komstar-Obyedinennye TeleSistemy, located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000Teleset Networks PCL, locatedin Nicosia, Cyprus, providestelecommunications services toresidential and businesscustomers, such as fixed-linetelephone, Internet access andVoIP, leasing of the channelsand turn key systemsintegration solutions. Thecompany was founded in 1996.Teleset Networks PCL, located in Nicosia, Cyprus, providestelecommunications services to residential and businesscustomers, such as fixed-line telephone, Internet access andVoIP, leasing of the channels and turn key systemsintegration solutions. The company was founded in 1996.Teleset Networks PCL, located in Nicosia, Cyprus, provides telecommunications services to residential and business customers, such as fixed-line telephone, Internet access and VoIP, leasing of the channels and turn key systems integration solutions. The company was founded in 1996.0.000000.000000.00000157.56000Y23 Sep 09Wed, 23 Sep 2009 00:00:00 ESTDate Announced: 09/23/2009Date Effective:MergerNot Appl.0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.00000243.8260000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000001671.764000.319000.321000.3160048.976000.000000.282000.000000.000000.0000022.7780049.8510054.3240077.725000.0000071.591000.000001.000002.000003.000004.000005.000006.000007.000008.000009.00000CYPRUS - OAO Komstar-Obyedinennye TeleSistemy ofRussia, a unit of OAO AFKSistema was rumored to beplanning to acquire theentire share capital ofTeleset Networks PCL, aNicosia-based provider oftelecommunications services.CYPRUS - OAO Komstar- Obyedinennye TeleSistemy of Russia, a unit of OAO AFK Sistema was rumored to be planning to acquire the entire share capital of Teleset Networks PCL, a Nicosia-based provider of telecommunications services.CYPRUS - OAO Komstar- Obyedinennye TeleSistemy of Russia, a unit of OAO AFK Sistema wasrumored to be planning to acquire the entire share capital of Teleset Networks PCL, aNicosia-based provider of telecommunications services.CYPRUS - OAO Komstar- Obyedinennye TeleSistemy of Russia, a unit of OAO AFK Sistema was rumored to be planning to acquire the entire share capital of Teleset Networks PCL, a Nicosia-based provider oftelecommunications services.CYPRUS - OAO Komstar- Obyedinennye TeleSistemy of Russia, a unit of OAO AFK Sistema was rumored to be planning to acquire the entireshare capital of Teleset Networks PCL, a Nicosia-based provider of telecommunications services.Rumor65304.122003489.6100039945.51800116135.619009.72800413.35500413.35500304.68100186.24800160.769000.000001532.63300308.486001.395000.000000.000000.000000.000001.395001658.229001658.22900982.77200524.98700500.741000.00000220.43200130.8980074.8660071.981000.00000220.43200298.92000201.69700120.2710097.198000.00000298.92000765.77800578.70500364.00200267.026000.00000765.778002862.263002862.263001728.269001163.76600898.019000.00000Status:RumorRR-999.00000np0.39000-999.00000np57.651000.0000014.3830045.044000.0000050.2090056.827000.000000.000000.000000.000004812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec7375:Information retrieval services625763002LondonRussian Fed4813ForeignPublicSSA4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec7375:Information retrieval services19324002LondonCyprus4813ForeignPublicTNW0.000000.000000.000000.00000Deal InformationTF Mergers & AcquisitionsRUSSIA - OAO "Mobile Telesystems" (MTS), a ##.#%- owned unit of OAO "AFK Sistema" (Sistema), planned to launch a tender offer to raise its interest to ##.##% from ##.##%, by acquiring a ##% stake, or ###.## mil ordinary shares, in OAO Komstar - Obyedinennye TeleSistemy (Komstar), a Moscow-based provider of telecommunication services, and a ##%-owned unit of Sistema. The offer was conditioned upon at least ##. #% interest or ###.## mil ordinary shares, in Komstar.22 Sep 2009 08:02:10 EST60740920568F00823Y00823YOAO "Mobile Telesystems"OAO "Komstar - Obyedinennye TeleSistemy"OAO ''AFK Sistema''OAO ''AFK Sistema''http://www.alacrastore.com/storecontent/Thomson_M%26A/Mobile_Telesystems_intends_to_acquire_a_minority_stake_in_Komstar_Obyedinennye_from_AFK_Sistema-2109994040sdc/21099940402109994040Copyright © 2009, Thomson Financial, All Rights ReservedNew YorkTelecommunicationsRussian FedRadiotelephone communications4812FFForeignPublicMBT4812:Radiotelephone communications4899:Communications services, nec3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managersLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST659847002Pvd telecommun svcsPvd telecommun svcsUnspecifiedOrdinary Share464808005Sep 22 20090.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.00000OAO "Mobile Telesystems",located in Moscow, Russia,provides wirelesstelecommunications services inthe Russian Federation,Ukraine Uzbekistan, andTurkmenistan. The companyprovides network accessservices such as mobilecellular voice, data, andfacsimile communicationservices to its subscribers onvarious tariff plans. It alsooffers various servicesincluding voice mail, shortmessage services, generalpacket radio services, andmultimedia message services.The company was founded in1993.OAO "Mobile Telesystems", located in Moscow, Russia,provides wireless telecommunications services in the RussianFederation, Ukraine Uzbekistan, and Turkmenistan. Thecompany provides network access services such as mobilecellular voice, data, and facsimile communication servicesto its subscribers on various tariff plans. It also offersvarious services including voice mail, short messageservices, general packet radio services, and multimediamessage services. The company was founded in 1993.OAO "Mobile Telesystems", located in Moscow, Russia, provides wireless telecommunications services in the Russian Federation, Ukraine Uzbekistan, and Turkmenistan. The company provides network access services such as mobile cellular voice, data, and facsimile communication services to its subscribers on various tariff plans. It also offers various services including voice mail, short message services, general packet radio services, and multimedia message services. The company was founded in 1993.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO "Komstar ObyedinennyeTeleSistemy", located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO "Komstar Obyedinennye TeleSistemy", located in Moscow,Russia, provides integrated telecommunication servicesranging from voice and data transmission to broadbandInternet access and CATV, call centers, and VPNs, in theMoscow region. The company was founded in 2004.OAO "Komstar Obyedinennye TeleSistemy", located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.0.000000.000000.00000417.94000N18 Sep 09Fri, 18 Sep 2009 00:00:00 ESTDate Announced: 09/18/2009Date Effective:Acq. Part. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.0000035.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.00000RUSSIA - OAO "MobileTelesystems" (MTS), a 52.8%-owned unit of OAO "AFKSistema" (Sistema), plannedto launch a tender offer toraise its interest to 85.91%from 50.91%, by acquiring a35% stake, or 146.28 milordinary shares, in OAOKomstar - ObyedinennyeTeleSistemy (Komstar), aMoscow-based provider oftelecommunication services,and a 51%-owned unit ofSistema. The offer wasconditioned upon at least 50.9% interest or 212.73 milordinary shares, in Komstar.RUSSIA - OAO "Mobile Telesystems" (MTS), a 52.8%- owned unit of OAO "AFK Sistema" (Sistema), planned to launch a tender offer to raise its interest to 85.91% from 50.91%, by acquiring a 35% stake, or 146.28 mil ordinary shares, in OAO Komstar - Obyedinennye TeleSistemy (Komstar), a Moscow-based provider of telecommunication services, and a 51%-owned unit of Sistema. The offer was conditioned upon at least 50. 9% interest or 212.73 mil ordinary shares, in Komstar.RUSSIA - OAO "Mobile Telesystems" (MTS), a 52.8%- owned unit of OAO "AFK Sistema"(Sistema), planned to launch a tender offer to raise its interest to 85.91% from 50.91%,by acquiring a 35% stake, or 146.28 mil ordinary shares, in OAO Komstar - ObyedinennyeTeleSistemy (Komstar), a Moscow-based provider of telecommunication services, and a51%-owned unit of Sistema. The offer was conditioned upon at least 50. 9% interest or212.73 mil ordinary shares, in Komstar.RUSSIA - OAO "Mobile Telesystems" (MTS), a 52.8%- owned unit of OAO "AFK Sistema" (Sistema), planned to launch a tender offer to raise its interest to 85.91% from 50.91%, by acquiring a 35% stake, or146.28 mil ordinary shares, in OAO Komstar - Obyedinennye TeleSistemy (Komstar), a Moscow-based provider of telecommunication services, and a 51%-owned unit of Sistema. The offer was conditioned uponat least 50. 9% interest or 212.73 mil ordinary shares, in Komstar.RUSSIA - OAO "Mobile Telesystems" (MTS), a 52.8%- owned unit of OAO "AFK Sistema" (Sistema), planned to launch a tender offer to raiseits interest to 85.91% from 50.91%, by acquiring a 35% stake, or 146.28 mil ordinary shares, in OAO Komstar - Obyedinennye TeleSistemy(Komstar), a Moscow-based provider of telecommunication services, and a 51%-owned unit of Sistema. The offer was conditioned upon atleast 50. 9% interest or 212.73 mil ordinary shares, in Komstar.Intended0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Intended-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services625763002LondonRussian Fed4813ForeignPublicSSA3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managers625763002LondonRussian Fed4813ForeignPublicSSA0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/research/s-and-p-credit-research-Research_Update_Comstar_United_TeleSystems_Still_On_CreditWatch_Negative_While_Parent_Sistema_Remains_On_Watch-738685738685spcred/738685normglobal07 Aug 2009 08:16:41 EST175Research UpdateThe latest Research Update from S&PRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaGlobal IssuersResearch UpdateRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RURESUPDRUS60740950101020 501010 5010 5050102010 501020 5010 50Mobile TeleSystems (OJSC)Moscow City Telephone Network (JSC)317913344344EMERGINGEUROMIDAFRMGTS@RUMTSI@RMCORPGLOBISSHighLEVFINTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/research/s-and-p-credit-research-Comstar_United_TeleSystems_Still_On_CreditWatch_Negative_While_Parent_Sistema_Remains_On_Watch-738684738684spcred/738684normglobal07 Aug 2009 08:16:41 EST100NewsThe latest News from S&PRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaGlobal IssuersNewsRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RUNEWSCORPGLOBISSLEVFINTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_184445_809656271PR_184445_809656271moodys/PR_184445_809656271html07 Aug 2009 05:07:57 ESThtmlComstar United TelesystemsSistema Joint Stock Financial CorporationMobile TeleSystem Finance S.A.Mobile TeleSystems OJSCComstar United Telesystems; Mobile TeleSystem Finance S.A.; Mobile TeleSystems OJSC; ...809656271600063615600062343600061056150.000006 Aug 2009NewsRating ActionCGlobal Credit Research Rating Action # AUG #### Rating Action: Comstar United Telesystems Moody's places MTS' and Comstar's ratings on review for possible downgrade following acquisition announcement London, ## August #### -- Moody's...Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_809656271COP_809656271moodys/COP_809656271html17 Jun 2009 04:46:00 ESThtmlComstar United TelesystemsComstar United Telesystems809656271150.000015 Oct 2009NewsCredit OpinionCGlobal Credit Research Credit Opinion ## OCT #### Credit Opinion: Comstar United Telesystems Comstar United Telesystems Moscow, Russia Ratings Category Moody's Rating Outlook Stable Corporate Family Rating Ba# Contacts Analyst Phone...Credit & Investment ResearchMoody's Global Credit ResearchRUSSIA - OAO Mobile Telesystems, a majority-owned unit of OAO AFK Sistema (Sistema), was rumoured to be planning to acquire a ##% interest, or ###.## mil ordinary shares, in OAO Comstar United TeleSystems, a Moscow-based provider of telecommunication services, from Sistema. This was an internal reorganization.21 May 2009 12:52:57 EST60740920568F00823Y00823YOAO Mobile TelesystemsOAO Comstar United TeleSystemsOAO AFK SistemaOAO AFK Sistemahttp://www.alacrastore.com/storecontent/Thomson_M%26A/OAO_Mobile_Telesystems_is_rumored_to_be_planning_to_acquire_OAO_Comstar_United_TeleSystems_from_OAO_AFK_Sistema-2074993040sdc/20749930402074993040Copyright © 2009, Thomson Financial, All Rights ReservedNew YorkTelecommunicationsRussian FedRadiotelephone communications4812FFForeignPublicMBT4812:Radiotelephone communications4899:Communications services, nec3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managersLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST659847002Pvd telecommun svcsPvd telecommun svcsNot ApplicableStock464808005May 21 20090.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.00000OAO Mobile Telesystems,located in Moscow, Russia,provides wirelesstelecommunications services inthe Russian Federation,Ukraine Uzbekistan, andTurkmenistan. The companyprovides network accessservices, such as mobilecellular voice, data, andfacsimile communicationservices to its subscribers onvarious tariff plans. It alsooffers various services,including voice mail, shortmessage services, generalpacket radio services, andmultimedia message services.It was founded in October1993.OAO Mobile Telesystems, located in Moscow, Russia, provideswireless telecommunications services in the RussianFederation, Ukraine Uzbekistan, and Turkmenistan. Thecompany provides network access services, such as mobilecellular voice, data, and facsimile communication servicesto its subscribers on various tariff plans. It also offersvarious services, including voice mail, short messageservices, general packet radio services, and multimediamessage services. It was founded in October 1993.OAO Mobile Telesystems, located in Moscow, Russia, provides wireless telecommunications services in the Russian Federation, Ukraine Uzbekistan, and Turkmenistan. The company provides network access services, such as mobile cellular voice, data, and facsimile communication services to its subscribers on various tariff plans. It also offers various services, including voice mail, short message services, general packet radio services, and multimedia message services. It was founded in October 1993.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO Comstar UnitedTeleSystems, located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia,provides integrated telecommunication services ranging fromvoice and data transmission to broadband Internet access andCATV, call centers, and VPNs, in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.0.000000.000000.00000417.94000N19 May 09Tue, 19 May 2009 00:00:00 ESTDate Announced: 05/19/2009Date Effective:Acq. Maj. Int.Not Appl.0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.0000051.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.00000RUSSIA - OAO MobileTelesystems, a majority-ownedunit of OAO AFK Sistema(Sistema), was rumoured to beplanning to acquire a 51%interest, or 213.15 milordinary shares, in OAOComstar United TeleSystems, aMoscow-based provider oftelecommunication services,from Sistema. This was aninternal reorganization.RUSSIA - OAO Mobile Telesystems, a majority-owned unit of OAO AFK Sistema (Sistema), was rumoured to be planning to acquire a 51% interest, or 213.15 mil ordinary shares, in OAO Comstar United TeleSystems, a Moscow-based provider of telecommunication services, from Sistema. This was an internal reorganization.RUSSIA - OAO Mobile Telesystems, a majority-owned unit of OAO AFK Sistema (Sistema), wasrumoured to be planning to acquire a 51% interest, or 213.15 mil ordinary shares, in OAOComstar United TeleSystems, a Moscow-based provider of telecommunication services, fromSistema. This was an internal reorganization.RUSSIA - OAO Mobile Telesystems, a majority-owned unit of OAO AFK Sistema (Sistema), was rumoured to be planning to acquire a 51% interest, or 213.15 mil ordinary shares, in OAO Comstar UnitedTeleSystems, a Moscow-based provider of telecommunication services, from Sistema. This was an internal reorganization.RUSSIA - OAO Mobile Telesystems, a majority-owned unit of OAO AFK Sistema (Sistema), was rumoured to be planning to acquire a 51%interest, or 213.15 mil ordinary shares, in OAO Comstar United TeleSystems, a Moscow-based provider of telecommunication services, fromSistema. This was an internal reorganization.Rumor0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Rumor-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services625763002LondonRussian Fed4813ForeignPublicSSA3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managers625763002LondonRussian Fed4813ForeignPublicSSA0.000000.000000.000000.00000Deal InformationTF Mergers & AcquisitionsRUSSIA - OAO Comstar United TeleSystems, a unit of OAO AFK Sistema, planned to raise its interest to an undisclosed majority from ##% stake plus one share in Russian state-owned OAO Investitsionnaya Kompaniya Svyazi {OAO Svyazinvest}, a Moscow-based provider of telecommunications services.30 Apr 2009 10:48:02 EST20568F86964E00823Y78306NOAO Comstar United TeleSystemsOAO Investitsionnaya Kompaniya Svyazi{OAO Svyazinvest}OAO AFK SistemaRussiahttp://www.alacrastore.com/storecontent/Thomson_M%26A/OAO_Comstar_United_TeleSystems_acquires_OAO_Svyazinvest_privatized_by_Russia-2069257040sdc/20692570402069257040Copyright © 2009, Thomson Financial, All Rights ReservedLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managersTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignGovernment464808005Pvd telecommun svcsNational governmentUnspecifiedStock336953001Apr 30 20090.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO Comstar UnitedTeleSystems, located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia,provides integrated telecommunication services ranging fromvoice and data transmission to broadband Internet access andCATV, call centers, and VPNs, in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.1.000002.000003.000004.000005.000006.00000OAO Investitsionnaya KompaniyaSvyazi {OAO Svyazinvest},located in Moscow, Russia,provides telecommunicationsservices. The company wasfounded on 24 July 1995.OAO Investitsionnaya Kompaniya Svyazi {OAO Svyazinvest},located in Moscow, Russia, provides telecommunicationsservices. The company was founded on 24 July 1995.OAO Investitsionnaya Kompaniya Svyazi {OAO Svyazinvest}, located in Moscow, Russia, provides telecommunications services. The company was founded on 24 July 1995.0.000000.000000.000000.00000N24 Apr 09Fri, 24 Apr 2009 00:00:00 ESTDate Announced: 04/24/2009Date Effective:Acq. Maj. Int.Friendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.0000025.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.00000RUSSIA - OAO Comstar UnitedTeleSystems, a unit of OAOAFK Sistema, planned to raiseits interest to anundisclosed majority from 25%stake plus one share inRussian state-owned OAOInvestitsionnaya KompaniyaSvyazi {OAO Svyazinvest}, aMoscow-based provider oftelecommunications services.RUSSIA - OAO Comstar United TeleSystems, a unit of OAO AFK Sistema, planned to raise its interest to an undisclosed majority from 25% stake plus one share in Russian state-owned OAO Investitsionnaya Kompaniya Svyazi {OAO Svyazinvest}, a Moscow-based provider of telecommunications services.RUSSIA - OAO Comstar United TeleSystems, a unit of OAO AFK Sistema, planned to raise itsinterest to an undisclosed majority from 25% stake plus one share in Russian state-ownedOAO Investitsionnaya Kompaniya Svyazi {OAO Svyazinvest}, a Moscow-based provider oftelecommunications services.RUSSIA - OAO Comstar United TeleSystems, a unit of OAO AFK Sistema, planned to raise its interest to an undisclosed majority from 25% stake plus one share in Russian state-owned OAO InvestitsionnayaKompaniya Svyazi {OAO Svyazinvest}, a Moscow-based provider of telecommunications services.RUSSIA - OAO Comstar United TeleSystems, a unit of OAO AFK Sistema, planned to raise its interest to an undisclosed majority from 25%stake plus one share in Russian state-owned OAO Investitsionnaya Kompaniya Svyazi {OAO Svyazinvest}, a Moscow-based provider oftelecommunications services.Pending0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Pending-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6719:Offices of holding companies, nec625763002LondonRussian Fed4813ForeignPublicSSA999A:National government180201002Russian Fed999AForeignGovernment0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/713120spcred/713120norm713120The latest Research Update from S&Pglobal01 Apr 2009 10:43:00 EST175Research UpdateRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaCorporationsGlobal IssuersTelecommunications & CableResearch UpdateRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EUROMIDAFREMERGINGCMST@RURESUPDRUS50101020 501010 5010 50Moscow City Telephone Network (JSC)317913EMERGINGEUROMIDAFRMGTS@RUCORPLEVFINTelecommunicationsGLOBISSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/713119spcred/713119norm713119The latest News from S&Pglobal01 Apr 2009 10:43:00 EST100NewsRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaGlobal IssuersTelecommunications & CableCorporationsNewsRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RUNEWSCORPLEVFINTelecommunicationsGLOBISSCredit & Investment ResearchS&P Credit ResearchRUSSIA - OAO Comstar United TeleSystems, a ##%-owned unit of OAO AFK Sistema (AS), acquired the entire share capital of OAO ESTA, a Severodvinsk-based owner and operator of cable TV networks, from Sistema Mass Media, a unit of AS.18 Feb 2009 10:30:04 EST20568F29745M00823Y00823YOAO Comstar United TeleSystemsOAO ESTAOAO AFK SistemaOAO AFK Sistemahttp://www.alacrastore.com/storecontent/Thomson_M%26A/OAO_Comstar_United_TeleSystems_acquires_OAO_ESTA_from_OAO_AFK_Sistema-2051023040sdc/20510230402051023040Copyright © 2009, Thomson Financial, All Rights ReservedLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managersRadio and Television Broadcasting StationsRussian FedCable and other pay television services4841FFForeignSubsidiary464808005Pvd telecommun svcsPvd telecommun svcsUnspecifiedStock932144002Feb 18 20090.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO Comstar UnitedTeleSystems, located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia,provides integrated telecommunication services ranging fromvoice and data transmission to broadband Internet access andCATV, call centers, and VPNs, in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.1.000002.000003.00000OAO ESTA, located inSeverodvinsk, Russia, owns andoperates cable TV networks.OAO ESTA, located in Severodvinsk, Russia, owns and operatescable TV networks.OAO ESTA, located in Severodvinsk, Russia, owns and operates cable TV networks.0.000000.000000.000000.00000N13 Feb 09Fri, 13 Feb 2009 00:00:00 ESTDate Announced: 02/13/200913 Feb 09Date Effective: 02/13/200913 Feb 09MergerFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.00000RUSSIA - OAO Comstar UnitedTeleSystems, a 51%-owned unitof OAO AFK Sistema (AS),acquired the entire sharecapital of OAO ESTA, aSeverodvinsk-based owner andoperator of cable TV networks,from Sistema Mass Media, aunit of AS.RUSSIA - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema (AS), acquired the entire share capital of OAO ESTA, a Severodvinsk-based owner and operator of cable TV networks, from Sistema Mass Media, a unit of AS.RUSSIA - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema (AS),acquired the entire share capital of OAO ESTA, a Severodvinsk-based owner and operator ofcable TV networks, from Sistema Mass Media, a unit of AS.RUSSIA - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema (AS), acquired the entire share capital of OAO ESTA, a Severodvinsk-based owner and operator of cable TV networks, fromSistema Mass Media, a unit of AS.RUSSIA - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema (AS), acquired the entire share capital of OAO ESTA, aSeverodvinsk-based owner and operator of cable TV networks, from Sistema Mass Media, a unit of AS.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004841:Cable and other pay television services625763002LondonRussian Fed4813ForeignPublicSSA3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managers625763002LondonRussian Fed4813ForeignPublicSSA0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/701882spcred/701882norm701882The latest Summary from S&Pglobal11 Feb 2009 09:26:19 EST175SummaryRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsTelecommunications & CableSummaryThe ratings on Russian telecommunications operator Comstar United TeleSystems (JSC) (Comstar) are constrained by the aggressive financial risk profile of its 51% owner Sistema (JSFC) (BB/Stable/--), as well as by Comstar's own ambitious growth strategy and uncertainties related to the regulation of the industry in Russia, in particular, those concerning the mooted privatization of national telecoms holding company OJSC Svyazinvest (not rated). The ratings are supported by Comstar's strong position in Moscow's fixed-line market, its expanding corporate-services segment, favorable financial and operating performance, and synergetic integration with its operating subsidiaries and Sistema's various telecom assets. Comstar's financial and operating performance, fueled heavily by fixed-line incumbent subsidiary, Moscow City Telephone Network (JSC) (MGTS; BB/Stable/--), is strong, reflecting demand for broadband InternetRUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RUSUMMARYRUS50101020 501010 5010 5050102010 501020 5010 50Moscow City Telephone Network (JSC)Sistema (JSFC)317913347967EMERGINGEUROMIDAFRMGTS@RUAFKS@RUGLOBISSCORPLEVFINTelecommunicationsCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/701881spcred/701881norm701881The latest Full Report from S&Pglobal11 Feb 2009 09:26:00 EST400Full ReportRussiaAlternative CarriersEmerging MarketsEurope, Middle East, AfricaGlobal IssuersCorporationsHigh TechnologyTelecommunications & CableFull ReportResilient market position in the lucrative Moscow region Last-mile access to more than four million subscribers in Moscow Synergy opportunities through its integration with majority shareholder Sistema's subsidiaries Parent's aggressive financial risk profile Ambitious growth strategy Uncertainties about industry regulation Intensifying competition in key market segments The ratings on Russian telecommunications operator Comstar United TeleSystems (JSC) (Comstar) are constrained by the aggressive financial risk profile of its 51% owner Sistema (JSFC) (BB/Stable/--), as well as by Comstar's own ambitious growth strategy and uncertainties related to the regulation of the industry in Russia, in particular, those concerning the mooted privatization of national telecoms holding company OJSC Svyazinvest (not rated). The ratings are supported by Comstar's strong position in Moscow's fixed-line market,RUS50101010 501010 5010 50Comstar United TeleSystems (JSC)412615EMERGINGEUROMIDAFRCMST@RUFULLRUS60740950101020 501010 5010 5050102010 501020 5010 50Moscow City Telephone Network (JSC)Mobile TeleSystems (OJSC)Sistema (JSFC)317913347967344344EMERGINGEUROMIDAFRMGTS@RUAFKS@RUMTSI@RMGLOBISSCORPLEVFINHighTelecommunicationsCredit & Investment ResearchS&P Credit ResearchUS - OAO Comstar United TeleSystems, a ##%-owned unit of OAO AFK Sistema, acquired all the outstanding common stock of JIR Broadcast Inc, an owner and operator of radio and TV stations.05 Feb 2009 07:53:13 EST20568F47701E00823Y47701EOAO Comstar United TeleSystemsJIR Broadcast IncOAO AFK SistemaJIR Broadcast Inchttp://www.alacrastore.com/storecontent/Thomson_M%26A/OAO_Comstar_United_TeleSystems_acquires_JIR_Broadcast_Inc-2048158020sdc/20481580202048158020Copyright © 2009, Thomson Financial, All Rights ReservedLondonTelecommunicationsRussian FedTelephone communications, except radiotelephone4813FFForeignPublicCMST4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4841:Cable and other pay television services4899:Communications services, nec7375:Information retrieval services3674:Semiconductors and related devices4812:Radiotelephone communications4813:Telephone communications, except radiotelephone4899:Communications services, nec6000:Banks6282:Investment advice6311:Life insurance6331:Fire, marine, and casualty insurance6531:Real estate agents and managersRadio and Television Broadcasting StationsUnited StatesRadio broadcasting stations4832DEDelawarePrivate464808005Pvd telecommun svcsOwn,op radio,TV stationsUnspecifiedStock966355001Feb 5 20090.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000OAO Comstar UnitedTeleSystems, located inMoscow, Russia, providesintegrated telecommunicationservices ranging from voiceand data transmission tobroadband Internet access andCATV, call centers, and VPNs,in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia,provides integrated telecommunication services ranging fromvoice and data transmission to broadband Internet access andCATV, call centers, and VPNs, in the Moscow region. Thecompany was founded in 2004.OAO Comstar United TeleSystems, located in Moscow, Russia, provides integrated telecommunication services ranging from voice and data transmission to broadband Internet access and CATV, call centers, and VPNs, in the Moscow region. The company was founded in 2004.1.000002.000003.000004.000005.000006.00000JIR Broadcast Inc, located inDelaware, US, owns andoperates radio and televisionbroadcasting stations. It alsoprovides high-speed Internetnetwork services.JIR Broadcast Inc, located in Delaware, US, owns andoperates radio and television broadcasting stations. It alsoprovides high-speed Internet network services.JIR Broadcast Inc, located in Delaware, US, owns and operates radio and television broadcasting stations. It also provides high-speed Internet network services.0.000000.000000.000000.00000Y03 Feb 09Tue, 03 Feb 2009 00:00:00 ESTDate Announced: 02/03/200903 Feb 09Date Effective: 02/03/200903 Feb 09MergerFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.00000US - OAO Comstar UnitedTeleSystems, a 51%-owned unitof OAO AFK Sistema, acquiredall the outstanding commonstock of JIR Broadcast Inc,an owner and operator ofradio and TV stations.US - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema, acquired all the outstanding common stock of JIR Broadcast Inc, an owner and operator of radio and TV stations.US - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema, acquired all theoutstanding common stock of JIR Broadcast Inc, an owner and operator of radio and TVstations.US - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema, acquired all the outstanding common stock of JIR Broadcast Inc, an owner and operator of radio and TV stations.US - OAO Comstar United TeleSystems, a 51%-owned unit of OAO AFK Sistema, acquired all the outstanding common stock of JIR Broadcast Inc,an owner and operator of radio and TV stations.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000004832:Radio broadcasting stations4833:Television broadcasting stations7375:Information retrieval services625763002LondonRussian Fed4813ForeignPublicSSA4832:Radio broadcasting stations4833:Television broadcasting stations7375:Information retrieval services966355001United States4832DelawarePrivate0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitions