In process to merge with bigger rival Reliance Communications, Russian giant Sistema's Indian telecom arm SSTL today said cost of spectrum is "very high" in India and it is too tough for it to keep investing here.May 23, 2016, 18:12 PM IST
Reliance Communications Tuesday said itgs shareholders have approved the proposal for merger of Sistema Shyam Teleservices with the company.Mar 08, 2016, 21:52 PM IST
As per the deal, SSTL will hold about 10 percent stake in RCom and pay off its existing debt before closing the deal.
Feb 22, 2016, 15:36 PM IST
The two companies signed the agreement after Prime Minister Narendra Modi attended the CEO Forum in Moscow, during his two-day bilateral visit to the country for the 16th Annual Summit.
Dec 25, 2015, 12:21 PM IST
On the RCom-SSTL deal, Fitch said it is unlikely to help RCom in meaningfully reducing its USD 6 billion in net debt.Nov 10, 2015, 20:48 PM IST
Shares of Reliance Communications (RCom) surged over 6 percent Monday after the company announced the acquisition of Russian conglomerate Sistema's Indian telecom unit in an all-stock deal that will create an operator with 118 million subscribers.Nov 02, 2015, 19:03 PM IST
Reliance Communications (RCom), India's fourth-largest telecom operator, Monday announced the acquisition of Russian conglomerate Sistema's Indian telecom unit in an all-stock deal that will create an operator with 118 million subscribers.Nov 02, 2015, 17:01 PM IST
New Delhi: Telecom services provider Sistema Shyam Teleservices CEO Dmitry Shukov has resigned from the company and its Chief Financial Officer Sergey Savchenko will take the charge from next week.
In an e-mail sent to employees of SSTL, which operates under MTS brand name, Shukov said, "I would like to share with you that I would be moving out of MTS India, effective September 7, 2015. My immediate plan is to go back to Moscow and be with my family."
"I would then proceed to a new country to take up my new role," he added.
Shukov, however, did not share details about his new job.
Russian conglomerate Sistema JSFC has majority stake in SSTL.
Shukov, has been heading SSTL's operation since June 2013. The company provides services in Delhi, Kolkata, Gujarat, Karnataka, Tamil Nadu, Kerala, Uttar Pradesh (West), West Bengal and Rajasthan.
The resignation comes at a time when there are discussions between the company and Reliance Communications for a possible merger.
"Nothing special should be read into this development as this is a personal call which I have taken," Shukov said.
SSTL under Shukov turned OIBDA (Operating Income before Depreciation and Amortisation) positive across six of nine telecom circles where it operates.Sep 04, 2015, 19:11 PM IST
Sistema Shyam Teleservices (SSTL), which operates its telecom services under the MTS brand, on Wednesday reported marginal widening of net loss to Rs 400.4 crore for the quarter ended June 30, 2015, on account of forex losses.Aug 26, 2015, 12:37 PM IST
Anil Ambani-led Reliance Communication Monday said it is in talks with AFK Sistema to merge the Russian conglomerate's Indian telecom operations through a cashless stock swap.Jun 15, 2015, 17:02 PM IST
Amid challenging market dynamics, telecom operators are discussing with each other for partnerships and alliances, including 4G services, telecom firm Sistema Shyam Teleservices on Tuesday said.Jun 02, 2015, 17:56 PM IST
Russian conglomerate Sistema JSFC's Indian telecom arm, SSTL, has decided not to bid for spectrum in the upcoming auction due to its high reserve price and some issues that are yet to be resolved by the Department of Telecom related to March 2013 auction.Feb 16, 2015, 14:36 PM IST
Sistema Shyam TeleServices (SSTL), which operates under MTS brand name, Wednesday announced its entry into the home WiFi segment as the telecom operator eyes increased revenues from data usage.Feb 11, 2015, 14:35 PM IST
The Delhi High Court on Friday asked Sistema Shyam Teleservices Ltd (SSTL), which provides high speed internet under the name MTS, to bring their "equipment" on Monday to test their claim that they provide speeds upto 9.8 Mbps.Dec 12, 2014, 19:37 PM IST
The base price of Rs 3,646 crore for CDMA spectrum being considered by the government is too high to find a buyer in the forthcoming auction, Sistema Shyam Teleservices Ltd (SSTL) - the lone bidder for CDMA radiowaves in March last year, said Wednesday.Dec 10, 2014, 20:22 PM IST
The company had reported a net loss of Rs 760.1 crore in the same period a year ago.Nov 25, 2014, 15:03 PM IST
Sistema Shyam TeleServices Ltd (SSTL), which provides telecom services under MTS brand, has tied up with Nodwin Gaming to launch an online, multiplayer, video gaming platform -- Gamegod.Nov 14, 2014, 15:28 PM IST
MTS Movies, which has been launched in partnership with short films aggregator Shotz7, will be available to MTS' data and smartphone customers, SSTL said.Sep 01, 2014, 15:36 PM IST
Sistema Shyam Teleservices (SSTL) Monday reported a narrowed down net loss of Rs 402.5 crore for the second quarter ended June 30 on account of cost optimisation and operational efficiencies.Aug 25, 2014, 16:13 PM IST
Gross revenue of 22 telecom operators, including Bharti Airtel, RCom, BSNL and Tata Teleservices, declined in October-December quarter of 2013 compared to the previous quarter, government said on Monday.Aug 11, 2014, 23:04 PM IST