Demerge the shyamtelelink from the company,but still not listed the new company. Is there any reason? Heard that some foreign company has taken the stake in shyam telelink, so what will be the impeck on this company? Is their any way to sell the shares of shyam telelink?
About: Company: Shyam Telecom Ltd.
as of nowe
contact 093755 77007 - Vipul
Thursday September 27, 02:48 AM
Russia-based Sistema has entered the Indian telecom market by buying a controlling stake in Shyam Telelink, a unified access service provider in Rajasthan. Shyam Telelink on Tuesday applied for unified access service licences (UASL) for providing telecom services throughout the country. Sistema has already acquired 10 per cent equity in Shyam Telelink.
It will increase its equity to 51 per cent after it gets approval from the Foreign Investment Promotion Board (FIPB). Sistema has an option to increase its equity stake in Shyam Telelink up to 74 per cent.
Sistema paid $11.4 million for the 10 per cent equity stake in Shyam Telelink. It will also take all the debt in the company This is the second attempt by Sistema to enter into the Indian telecom market. Earlier, it had signed an MoU with Aircel for buying controlling stake in it. However, the deal couldn't materialise.
With a turnover of about $11 billion for the year e ...more