“Sistema has closed a deal to merge with Indian SSTL RCom

– AFK Sistema has closed a deal to merge its Indian Telecom business of Sistema Shyam TeleServices (SSTL), Reliance Communications (RCom), the message of the company.

Following the transaction, the entire business of SSTL, including license rights and obligations in the frequency range of 800-850 MHz, transferred to RCom. While SSTL was the owner of 10% equity in RCom as a result of the additional issue of shares of an Indian operator.

The transaction has received all necessary approvals of the regulators and of the courts of India, says the company.

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