Sistema to acquire 17.14 cent stake in Sistema Shyam Teleservices Limited

Russian industrial conglomerate Sistema has announced that it will acquire a 17.14 per cent stake in Sistema Shyam TeleServices Limited (Sistema’s Indian subsidiary) from the Russian Agency for State Property Management. As per the agreement, Sistema will pay for the shares in instalments over a period of five years. The price of the deal has not been disclosed.