Sistema's India unit open to acquisitions-exec
NEW DELHI Nov 19 (Reuters) - Russian conglomerate Sistema's 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
- Facebook Q1 revenue grows 72 percent on rising mobile ads
- UPDATE 4-Boy and girl on Korean ferry drowned with life jackets tied together
- Boy and girl on Korean ferry drowned with life jackets tied together
- Kashmiris wary as Modi challenges for power
- BJP eyes gains in south, east to cut clout of regional queens
The opposition Bharatiya Janata Party was set to make gains in Tamil Nadu and West Bengal that began voting on Thursday in the sixth phase of a mammoth general election that could help it build a stable majority in parliament. Read | Full Coverage: Election 2014
India may cede top rice exporter spot under Southeast Asian price onslaught. Full Article