Sistema's plan to raise India stake faces snag over deal structure
NEW DELHI: Russian conglomerate Sistema JSFC's proposal to raise its stake in its Indian unit beyond 74 per cent has hit a hurdle with the telecom department saying that the plan will need an approval from the Reserve Bank of India as it has been structured like an overseas debt deal and not as foreign direct investment (FDI).
Investment though the instruments that Sistema wants to use — redeemable preference shares and optionally convertible redeemable preference shares - doesn't " ..
NEW DELHI: Russian conglomerate Sistema JSFC's proposal to raise its stake in its Indian unit beyond 74 per cent has hit a hurdle with the telecom department saying that the plan will need an approval from the Reserve Bank of India as it has been structured like an overseas debt deal and not as foreign direct investment (FDI).
Investment though the instruments that Sistema wants to use — redeemable preference shares and optionally convertible redeemable preference shares - doesn't " ..
Investment though the instruments that Sistema wants to use — redeemable preference shares and optionally convertible redeemable preference shares - doesn't " ..
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