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
- Hong Kong protests approach potential National Day flashpoint
- OPEC oil output hits highest since 2012 on Libya, Saudi-Reuters Survey
- Obama, Modi discuss trade, climate, Islamic State at White House
- UPDATE 3-Drug, medical device companies paid billions to U.S. physicians, hospitals in 2013 -data
- UPDATE 2-U.S. charges four with stealing $100 mln in software, data
U.S. President Barack Obama and Indian Prime Minister Narendra Modi worked to deepen improving ties between their countries on Tuesday, but emerged from their second meeting in two days with little in the way of major agreements. Story | Full Coverage
China final HSBC PMI steady in September on stronger global demand but risks remain Full Article