Russian conglomerate AFK Sistema is aiming to follow up its recent entry into the Indian telecoms market by acquiring licences and/or stakes in existing network operators in China and Bangladesh. Sistema representative Vladimir Yevtushenkov said during a meeting with President Dmitry Medvedev on Friday that the group had signed cooperative agreements with the governments of both China and Bangladesh. Furthermore, he said Sistema had already been granted a licence to provide mobile phone services in border provinces of China, and is considering buying stakes in a Chinese operator. In Bangladesh Sistema claims to be negotiating the acquisition of an existing mobile network, presumed to be the country’s smallest cellco by subscribers, state-run Teletalk, which has been roughly valued at USD300-USD500 million. In September 2007 Sistema began its Asian expansion campaign in India by buying a minority stake in CDMA-based telco Shyam Telelink, before upping its holding in phases and launching a plan to roll out nationwide mobile services. The Russian group’s main domestic telecoms businesses include stakes in Mobile TeleSystems (MTS), Sky Link, Comstar, MGTS and Svyazinvest.