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

Stocks

   

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)

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

  • Most Popular
  • Most Shared

Diplomacy

REUTERS SHOWCASE

Maruti Results

Maruti Results

Maruti Suzuki says profits helped by sentiment, not growth.  Full Article 

Tracking the Monsoon

Tracking the Monsoon

Monsoon turns patchy after revival.  Full Article 

ICICI Profit Up

ICICI Profit Up

ICICI Bank Q1 net profit up 17 percent, beats estimates.  Full Article 

Pharma Sector

Pharma Sector

FDA raises concern over drug production process at Cadila  Full Article 

Coal India

Coal India

Some Coal India mines may be run by foreign firms - minister  Full Article 

Fuel Prices

Fuel Prices

IOC to cut petrol prices by 1.5 pct from Friday  Read 

Economic Pulse

Economic Pulse

India's infrastructure output growth hits 9-month high in June  Full Article | Related Story 

Joint Bid

Joint Bid

ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources  Full Article 

Reuters India Mobile

Reuters India Mobile

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