May 15. AFK Sistema (RTS: AFKS) plans to complete Comstar-Direct's reorganization in 3Q 2008 by splitting the company's assets between Sistema Mass Media and Comstar-UTS, AFK Sistema senior vice president Anton Abugov said. "This process is in the final stage. I think that within the next quarter, if no additional issues arise, the process will be completed" – Abugov said, adding that all assets linked with content aggregation should go to Sistema Mass Media and all assets involved in broadband Internet access should be assigned to Comstar-UTS, respectively. This process was launched quite long ago, it implies the company's split-up, its reorganization and takeover by Sistema Mass Media and Comstar-UTS. This is a time-consuming legal procedure that takes up to a year. Abugov noted that from the viewpoint of operations all assets held by Comstar-Direct that are engaged in content aggregation have already been managed by Sistema Mass Media, while Comstar-UTS controls technical facilities. At present, Sistema Mass Media holds a 48% stake in Comstar-Direct and the remaining 52% interest is in the hands of Comstar-UTS.