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Sistema Gives Deadline To Indian Govt To Resolve Its License Issue

Sistema Shyam Teleservices (MTS India) has given a deadline to the Indian government to formulate a strategy to resolve the issue pertaining to the cancellation of its 2G license in the country, reports The Economic Times. While the company has not shared details with MediaNama, it has responded to our queries with the following note: "Would like to confirm that communication exchange between the Indian Government and Sistema – the majority shareholder in Sistema Shyam Teleservices Ltd has indeed happened. This is to ensure protection of investments of over USD 3.2 billion made in Sistema Shyam Teleservices Ltd" MTS along with other affected telcos in the 2G spectrum are expected to lose its licenses on January 18, due to the Supreme court judgement in February 2012, which had revoked 122 telecom licenses across 22 telcos. Following this, the telco will be forced to shut its operations and discontinue the service to its 16.64 million customers in India. Citing a communication sent to the external affairs ministry and the telecom ministry, the report stated Sistema has warned the government that it would be initiating international arbitration proceedings against the government and seek billions of dollars worth damages if the government fails to restore its 2G licenses before the Indo-Russian summit expected to happen later this month on December 24. In the communique, Anya Goldin, Sistema's Global Vice-President & General Counsel stated that shutting down Sistema's operations would be unjust to Sistema and its shareholders and could pave the way for serious repercussions for the country, as indicated by the report. He also pointed…

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