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Joint Site of Ministries of Foreign Affairs of BRICS Member States
Monday, February 13, 2017

Sistema Likely to Close Deal with RCom Soon: Evtushenkov

p>Sistema, Russia’s public diversified holding company, may close the transaction on merging its Indian telecom subsidiary SSTL (Sistema Shyam TeleServices) with Reliance Communications (RCom), Indian Internet access and telecommunications company, any day, board chairman of Sistema Vladimir Evtushenkov told TASS.

The Russian company made a decision on the asset merger in the autumn of 2015.

As a result of the merger, SSTL will acquire and hold a 10 per cent equity stake in RCom.

In November 2016, Sistema Group and RCom submitted documents for final approval of the transaction by India’s Department of Telecommunications.

Source: Russia&India Report