Exhibit 8.1
The table below presents our significant subsidiaries and investees, the places of incorporation and our effective ownership interests therein as of December 31, 2022.
Subsidiary |
| Accounting |
| Ownership |
| Place of |
RTC | | Consolidated | | 100.0 | % | Russia |
MTS Bank | | Consolidated | | 99.9 | % | Russia |
MGTS Group | | Consolidated | | 94.7 | % | Russia |
Multiregional TransitTelecom | | Consolidated | | 100.0 | % | Russia |
MTS Armenia | | Consolidated | | 100.0 | % | Armenia |
NVision Czech Republic (1) | | Consolidated | | 100.0 | % | Czech Republic |
VisionLabs | | Consolidated | | 100.0 | % | Russia |
Gulfstream | | Consolidated | | 58.4 | % | Russia |
Bronevik | | Consolidated | | 100.0 | % | Russia |
Webinar | | Consolidated | | 84.3 | % | Russia |
TIC (Tower Infrastructure Company) | | Consolidated | | 100.0 | % | Russia |
MDTZK (Ticketland) | | Consolidated | | 100.0 | % | Russia |
Kulturnaya Sluzhba (Ponominalu) | | Consolidated | | 100.0 | % | Russia |
IT-Grad 1 Cloud | | Consolidated | | 100.0 | % | Russia |
MTS Auto (former Stopol Group) | | Consolidated | | 100.0 | % | Russia |
Zelenaya Tochka Group – (Achemar Holdings) | | Consolidated | | 100.0 | % | Russia |
MTS Media | | Consolidated | | 100.0 | % | Russia |
MTS Didgital (former MTS IT) | | Consolidated | | 100.0 | % | Russia |
ORK | | Consolidated | | 100.0 | % | Russia |
Sistema Capital | | Consolidated | | 100.0 | % | Russia |
Stream | | Consolidated | | 100.0 | % | Russia |
MTS Artificial Intelligence | | Consolidated | | 100.0 | % | Russia |
MWS | | Consolidated | | 100.0 | % | Russia |
Energy Group | | Consolidated | | 100.0 | % | Russia |
Stream Digital(2) | | Consolidated | | 100.0 | % | Russia |
Bastion(2) | | Consolidated | | 100.0 | % | Russia |
MTS International Funding Limited(3) (“MTS International”) | | Consolidated | | SE | | Ireland |
MTS Belarus | | Equity | | 49.0 | % | Belarus |
(1) | Part of Nvision Czech Republic Group - NVision Czech Republic a.s.- was sold in October 2022, the results of the disposed subsidiary are presented as discontinued operations. |
(2) | Wholly-owned subsidiary, through which the Group repurchased its own shares. |
(3) | A company organized and existing as a private limited company under the laws of Ireland. The Group does not have any equity in MTS International. It was established for the purpose of raising capital through the issuance of debt securities on the Irish Stock Exchange followed by transferring the proceeds through a loan facility to the Group. In 2010 and 2013, MTS International issued $750 million 8.625% notes due in 2020 and $500 million 5.0% notes due in 2023, respectively. The notes are guaranteed by MTS in the event of default. MTS International does not perform any other activities except those required for notes servicing. The Group bears all costs incurred by MTS International in connection with the notes’ maintenance activities. Accordingly, the Group concluded that it exercises control over the entity. |
See also Note 2 to our audited consolidated financial statements.