Home»Money»Sistema Opens Doors To Acquisition Bids For Indian Unit

Sistema opens doors to acquisition bids for Indian unit

Dailybhaskar   |  Nov 19, 2012, 16:22PM IST
New Delhi: Russian Telecom major, Sistema's Indian arm Sistema Shyam, is now opening doors for new investors to come in and acquire the venture as it stands to loose 1 but 22 of its licenses in the country for 2G operations. The Russian company is also in a tussle with the government over the issue, where it is looking for an appeal to stop the cancellation of the licenses, but should the worst case scenario emerge, a takeover will be offered, is what CEO Vsevolod Rozanov reveals.
 
"Nothing serious to report on this," he said when asked if it was was currently engaged in talks with any company in India. Though this reaction from him stands pretty calm, toruble is brewing at the other end, becuase by January 2013, the licenses will be cancelled, which the company had bought in 2008 in the tainted spectrum auction. Aslo, talks have emerged that Sistema could even acquire Aircel, which happens to be India's 7th largest telecom major by volume. In other words, consolidation in the telecom sector seems certainly underway, but whether that will bear a positive consequence on service quality and larger volumes, remains to be seen. 
Ganesh Chaturthi Photo Contest
Your Opinion
 
To post this comment you must log in

Login/Connect with:
OR
Fill in your details
 
 

Will be displayed

 
 

Will be displayed

 
Code:
6 + 5

 
Advertisement
Ganesh Chaturthi Photo Contest

Top News

 
Advertisement
 
 
 
 
 

Photogallery