Sistema issue likely in 2011, mkt outlook a concern

Sistema issue likely in 2011, mkt outlook a concern

Sistema Shyam Teleservices (SSTL) is likely to come up with at an initial public offering (IPO) by the end of 2011. However, a not-so positive industry outlook in the current environment is a cause of concern for the IPO, the company said. “We are looking into this sooner. The market though is not very receptive to the telecom sector. If things go according to the plan we do this by year-end,” said Vsevolod Rozanov, president and chief executive officer, SSTL. Russia had picked up 17% in SSTL for $600 million.
SSTL is joint venture between Russia’s Sistema and India’s Shyam Group. It offers mobile voice and data services in the country under the MTS brand.