NEW DELHI 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)
GM mustard clears hurdle in India but more remain
NEW DELHI A government panel has cleared commercial use of what would be India's first genetically modified (GM) food crop, but politicians still have to give final approvals amid wide-spread public opposition.
Vodafone India to delay IPO filing until towards end-2016 - IFR
MUMBAI Vodafone Group Plc's Indian unit is likely to delay filing the draft prospectus for its up to $3 billion initial public offering (IPO) until towards the end of the year, IFR reported on Thursday
Welspun scandal follows years of plummeting Egyptian cotton output
NEW YORK A scandal involving the alleged sale of falsely labeled Egyptian cotton products by an Indian textile manufacturer to U.S. big box retailers highlights a stiff reality facing the high-end fiber market: there isn't much Egyptian cotton any more.