Sistema’s India unit open to acquisitions

The company does not expect any deals until court decides on its appeal on the order to revoke permits
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First Published: Mon, Nov 19 2012. 02 29 PM IST
Sistema Shyam TeleServices will lose its permits in January after a court order to revoke permits awarded in a scandal-tainted 2008 licence sale.
Sistema Shyam TeleServices will lose its permits in January after a court order to revoke permits awarded in a scandal-tainted 2008 licence sale.
Russian conglomerate Sistema’s Indian mobile phone unit, set to lose all but one of its 22 zonal operating permits, is open to acquisitions in India, the unit’s head said on Monday.
However, Vsevolod Rozanov, CEO at Sistema Shyam TeleServices Ltd, said he does not expect any deals until the Supreme Court decides on the company’s appeal on the order to revoke the permits.
“Nothing serious to report on this,” he said when asked if it was was currently engaged in talks with any company in India.
Sistema Shyam TeleServices will lose its permits in January after a court order to revoke permits awarded in a scandal-tainted 2008 licence sale.
Media reports have said Sistema is in talks to acquire Indian carrier Aircel Ltd, which is the country’s seventh-biggest mobile phone operator by customers.
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First Published: Mon, Nov 19 2012. 02 29 PM IST
More Topics: Sistema | Vsevolod Rozanov | Aircel | telecom |
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