Sistema Gains to 1-Month High on Approval to Buy Bashkir Assets

AFK Sistema (SSA), billionaire Vladimir Yevtushenkov’s holding company, climbed to a one-month high in London trading after winning approval to take control of energy companies in Bashkortostan.

The Federal Anti-Monopoly Service approved Sistema’s bid to acquire majority stakes in five energy companies based in the Urals Mountains region, a spokeswoman said.

Sistema gained as much as 14 percent to $4.35, the highest since Feb. 10.

To contact the reporter on this story: William Mauldin in Moscow at wmauldin1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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