SSTL open to expanding via takeover

5 Dec 2014

Russian-owned cellco Sistem Shyam TeleServices (SSTL), which operates under the MTS India brand, has confirmed that it is open to growing its business via acquisitions, although its main focus for spending is on spectrum acquisition and network expansion and upgrades. With debts totalling around USD600 million, the operator is concentrating on profitability for now, at least. The Economic Times quotes SSTL’s head of strategy Ranjan Banerjee as saying: ‘Once we get clarity on merger and acquisition (M&A) norms from the government, we are open to tap [the] right opportunity for inorganic growth.’ The official did not specify what element of M&A rules it wanted clearing up, but an attempt by market leader Bharti Airtel to take over Loop Mobile before it was forced to close down fell foul of mobile number portability (MNP) norms.

India, Sistema Shyam TeleServices (SSTL, MTS India)