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
- One dead, one wounded in shooting in Chicago financial district
- Israel, Palestinians locked in vicious circle of Gaza wars
- UPDATE 2-Bombardier plans more job cuts, Russia plans intact
- UPDATE 1-EU adopts toughest Russian sanctions yet, targets 5 Russian banks
- CORRECTED-UPDATE 2-GE credit card unit Synchrony makes muted debut on NYSE
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed. Full Article
ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources Full Article