Sistema's India unit open to acquisitions
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)
- Tweet this
- Share this
- Digg this
- Citi to hire 100 bankers in Asia, eyes more business from smaller clients
- West agrees wider Russia sanctions as Kiev says forces near crash site
- Cricket - Moeen probed after sporting 'Save Gaza' wristbands
- Israel warns of long Gaza war as Palestinian fighters cross border
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
India's largest cigarette maker ITC Ltd on Tuesday said first-quarter net profit grew 16 percent, lagging forecasts although sales beat market expectations. Full Article
With PlayStation network, Sony goes back to the future in search of revival Full Article