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Russia's Sistema plans up to $1 billion investment in India
April 9, 2013 / 10:48 AM / 5 years ago

Russia's Sistema plans up to $1 billion investment in India

MOSCOW (Reuters) - Russian conglomerate Sistema (SSAq.L) may invest up to $1 billion in India in 2013-2015, the head of its Indian mobile phone unit Sistema Shyam TeleServices, Vsevolod Rozanov, said on Tuesday.

The company also said it expects the unit to break even by the end of 2014 to the beginning of 2015 on an operating income, or OIBDA, basis, in all the nine regions in which it operates.

Sistema Shyam said earlier on Tuesday in a statement on its website that it recorded a full-year OIBDA loss of $271 million for 2012.

Reporting By Anastasia Teterevleva; writing by Megan Davies; Editing by Lidia Kelly

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