Russian government to take stake in an Indian operator?
By Dusan Belic on Monday, March 23rd, 2009 at 5:53 AM PST In General
The Russian government is reportedly interested to take an indirect stake in an Indian mobile phone network. According to a copy of the government budget, Russia has set aside 23.7 billion rubles for acquiring shares in the new Indian mobile phone network, Shyam Telelink, an amount that is sufficient to buy a 20% stake in Sistema Shyam TeleServices, which controls the mobile operator.
Sistema holds 73% stake in the Indian operator, and is also a controlling force in Russia’s leading operator – MTS. Apparently, the deal is part of a plan between the two countries to settle New Delhi’s outstanding Soviet-era debt to Moscow.
Shyam Telelink aims to secure 35 million subscribers by 2012, representing approximately 7% of the Indian market…
[Via: Cellular-News]
