Posts tagged sistema
The Russian government approves equity investment in SSTL
1517 days
Sistema , the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced that the Government of the Russian Federation has approved an equity investment in Sistema Shyam TeleServices Ltd. (SSTL), Sistema’s subsidiary in India, which provides telecommunications services under the MTS brand.
It is expected that the Russian Government, represented by the Federal Agency for State Property Management (Rosimushchestvo), will participate in an issuance of additional shares of SSTL, paying an equivalent of US$ 600 million in the form of Indian rupees held in accounts representing Indian governmental debt to the Russian Federation. (more…)
SSTL gets Rs.500 Crores from Central Bank of India for mts india
0679 days
by Gourav Sharma
in MTS
Sistema Shyam Teleservices Ltd (SSTL) in which sistema operates MTS brand of telecom service in India has been sanctioned a loan of Rs.500 cores by Central Bank of India. The loan has been given by the bank for a term of two years with repayment of the entire amount after maturity. JFSC Sistema will be the corporate guarantor for the loan. MTS has plans to connect all the telecom circles which it has been given spectrum and the loan amount will be used for capital as well as operational expenditure.
SSTL, has completed one year of operations in March 26 with its brand MTS in India and has close to 4 million subscribers in its 11 circles of operation
“The loan from Central Bank of India is an affirmation of the confidence in our business plan by financial institutions ensuring our roll out plans in line with our strategy”, said Mr. Sergey Savchenko, Chief Financial Officer of SSTL. (more…)
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