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SSTL shuts down Aircel acquisition rumours

22 Nov 2012

Russian-backed cellco Sistema Shyam TeleSerivces (SSTL) has denied rumours that it plans to acquire local rival Aircel, reports Telecom Tiger. The operator is currently fighting a legal battle to continue operating in India, having passed up the opportunity to repurchase its cancelled licences in favour of arguing its case with the Supreme Court. Rumours have been circulating in local press that part-owner of SSTL, Russia’s Sistema was involved in talks with Maxis Communications of Malaysia with a view to acquiring a controlling stake in Aircel. A spokesperson for SSTL clarified the company’s position and said in a statement: ‘SSTL would like to categorically state that there are no plans of acquiring any telecom service provider. From the perspective of SSTL, the immediate priority is to look at the outcome of the Company’s curative petition filed in the Honorable Supreme Court.’

India, Aircel, Maxis, Sistema Shyam TeleServices (SSTL, MTS India)

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