Sistema Acquires 10 Percent Stake In Shyam Telelink For $11.4 Million; Targets 51 Percent Stake

Entities Mentioned

• Shyam Telelink
• London Stock Exchange
• Shyam Telecom

1. Russian Telecom operator Sistema has acquired 10 percent stake in Indian telecom operator Shyam Telelink for $11.4 million. Shyam Telelink, a part of the public listed Shyam Telecom group, operates in Rajasthan under the brand name Rainbow and currently has 257,108 subscribers (157,431 Wireline, 99,677). The company has applied for a national level Unified Services Access licence for operating in 21 circles. It's among the smallest telecom operators in India, in terms of number of subscribers. The company also controls 100 percent of Shyam Internet limited, an Internet Service Provider. Sistema intends to increase it's stake to ... (Read Full Article)

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