wordpress blog stats
Connect with us

Hi, what are you looking for?

, ,

Shyam Telelink Gets Pan-India Spectrum; Sistema Plans To Increase Stake To 74 Percent

Russian telecom operator Sistema, has expectedly announced that they intend to increase their stake in Shyam Telelink, which operates the CDMA mobile service Rainbow. ET reports that Shyam-Sistema has become the first of the new telecom operators to get pan-India spectrum for operating mobile services. Sistema currently owns 51 percent in Shyam Telelink, and as per the FDI norms in India, they can own a maximum of 74 percent stake.

Sistema had acquired 10 percent stake in Shyam Telelink for $11.4 million on Septembe 26th 2007. They then increased their holding to 51 percent, for $46.7 million, taking the total amount to $58.1 million (around Rs. 255 crores). ET adds that Sistema has invested around $500 million in India so far, which includes the Rs. 1650 crore ($375 million) fee for the pan-India license.

So far, Shyam Telelink has had a rather poor run of it – In June, they added only 1,378 mobile subscribers, which July was only relatively better with an addition of 5688 subscribers. Their mobile subscriber base is 115,462…which is a fraction of what most other operators add in a month. Obviously, Sistema hasn’t bought a stake in Shyam for its massive subscriber base. Sistema is a Russian conglomerate with businesses across telecom, technology, insurance, banking, real estate, retail and media, and is listed on the London Stock Exchange, Moscow Stock Exchange and the Russian Trading System

Note: Both PTI and ET have mistaken Shyam Telelink for BSE listed Shyam Telecom, which owns Oasis Cellular, a GSM mobile service in Rajasthan.

Related:

DoT To Allow Telcos To Sell Out To 3G Auction Winners
Datacom In Talks With Four Foreign Telecom Cos For Investment; Spectrum For New Telcos
New Telco Roundup: Selling Stake, Internal Battles, Poaching

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ