Sistema's India unit open to acquisitions

NEW DELHI Mon Nov 19, 2012 2:03pm IST

The sun rises behind a communications tower in New Delhi March 20, 2006. REUTERS/B Mathur/Files

The sun rises behind a communications tower in New Delhi March 20, 2006.

Credit: Reuters/B Mathur/Files

Related Topics



NEW DELHI (Reuters) - Russian conglomerate Sistema's(SSAq.L) 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 Ltd will lose its permits in January after a court order to revoke permits awarded in a scandal-tainted 2008 sale.

Media reports have said Sistema is in talks to acquire Indian carrier Aircel, which is the country's seventh-biggest mobile phone operator by customers.

(Reporting by Devidutta Tripathy; Editing by Sunil Nair)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye


Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 


Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Microsoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 


Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage