PJSC MTS signed a legally binding agreement with Telco Solutions and Investments LLC, being under control of Azerbaijan's Bakcell telecom company, which in turn is incorporated in NEQSOL Holding, on the sale of MTS business in Ukraine.

The shareholders of the Russian company will have special dividends following the transaction.

"With the acquisition of Vodafone Ukraine, the second telecommunications operator in the Ukrainian market, we continue the strategy of expanding the international presence and entering the new markets by the companies belonging to the NEQSOL Holding group. The telecommunications industry is among the priority areas of our group's work, therefore we constantly invest in innovative and reliable telecommunication solutions," NEQSOL said in a report, citing CEO of NEQSOL Holding Yusif Jabbarov as saying.

He said that the state of the business, the growth pace and the effectiveness of Vodafone Ukraine are a reliable basis for further development, because NEQSOL holding is ready to invest in a new asset in order to continue introducing innovations and advanced technologies in Ukraine.

According to the statement of NEQSOL, under the agreement, MTS through its fully-owned subsidiary Allegretto Holding S.a.r.l. (Luxembourg) sells a 100% stake in Preludium B.V. (Netherlands), the sole shareholder of PrJSC VF Ukraine (the Vodafone Ukraine trademark), for $734 million, including deferred payment of about $84 million.

The purchase of a company in Ukraine is financed mainly from resources provided by international financial institutions.

"The change of ownership will not affect the operating activities of Vodafone Ukraine. The company will continue providing services under the Vodafone brand and meeting all obligations to employees, customers and partners," the NEQSOL said.

The shares will be transferred soon.

"The company will continue providing services under the Vodafone brand. All tariff plans and services, as well as contracts and other obligations of the company are relevant and continue to be in effect," Vodafone Ukraine's press service told Interfax-Ukraine.

The mobile operator also confirmed the information that the change of ownership will not affect its operations, the provision of services to customers, interaction with partners, suppliers and contractors.