Sistema to increase stake in Shyam Telelink to 74%

19 Feb 2008

Indian newspaper The Financial Express reports that Russian conglomerate Sistema, which owns 51% of the Indian cellco Shyam Telelink, will increase its stake to 74% within the next two years. This will increase Sistema’s shareholding of Shyam Telelink to the maximum allowed under current Indian legislation. Sistema has said it plans to invest a further USD4-USD7 billion in Shyam in order to create a pan-Indian wireless network.

India, Sistema Shyam TeleServices (SSTL, MTS India)