Russia to invest US$600mn in Sistema Shyam Tele: report

After the issue of shares to the Russian government, Sistema's stake will be diluted to 54%.

Jun 23, 2010 03:06 IST India Infoline News Service

Russian Government may make US$600mn investment in Sistema Shyam Teleservices, the Indian subsidiary of Russia's Sistema, by October, according to reports. As a result of the investment, the Russian Government will get a 20% stake in Sistema Shyam, which holds telecoms licences for the whole of India, Vsevolod Rozanov, Chief Executive was quoted as saying.


Sistema owns 73.71% of Shyam Tele, while Shyam Group owns the remainder in Sistema Shyam Teleservices. After the issue of shares to the Russian government, Sistema's stake will be diluted to 54%.



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