Sistema's India unit says to hire investment banks for IPO
Tue, 15th Mar 2011 08:57
NEW DELHI, March 15 (Reuters) - Russian oil-to-telecoms group Sistema's Indian mobile phone unit will appoint investment banks in couple of months for a planned initial public offering, a top official said on Tuesday.
'As we have said, we will be ready by the end of this calendar year,' Vsevolod Rozanov, chief executive officer of Sistema Shyam TeleServices, told reporters, adding the launch of the IPO would depend on regulatory approvals and market conditions.
Sistema owns a 73.7 percent stake in Sistema Shyam, while India's Shyam group owns 23.8 percent.
(Reporting by Devidutta Tripathy; Editing by Tony Munroe)
((sumeet.chatterjee@thomsonreuters.com; +91-22-6636 9068; Reuters Messaging: sumeet.chatterjee.reuters.com@reuters.net)) Keywords: SISTEMA INDIA/IPO
(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
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'As we have said, we will be ready by the end of this calendar year,' Vsevolod Rozanov, chief executive officer of Sistema Shyam TeleServices, told reporters, adding the launch of the IPO would depend on regulatory approvals and market conditions.
Sistema owns a 73.7 percent stake in Sistema Shyam, while India's Shyam group owns 23.8 percent.
(Reporting by Devidutta Tripathy; Editing by Tony Munroe)
((sumeet.chatterjee@thomsonreuters.com; +91-22-6636 9068; Reuters Messaging: sumeet.chatterjee.reuters.com@reuters.net)) Keywords: SISTEMA INDIA/IPO
(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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