Sistema Shyam Teleservices Ltd, who is set to lose 21 spectrum licences following the Supreme Court’s February 2 verdict, said on Monday that it is not in discussion to acquire any telecom service provider at this point of time. Sistema JSFC holds majority stake in SSTL.
The company’s licences in question are valid till September 7 and it will have to participate in auction to buy fresh spectrum due before August 31 to continue operations in India.
"SSTL believes that the talk of engaging with other telecom service providers for a possible acquisition deal is motivated," the spokesperson said in a statement here.
The company is awaiting government decision on minimum price of auction of airwaves, before it finalises its India strategy.
"From the perspective of SSTL, the immediate priority is to seek clarity on spectrum related regulations from the government and also look at the outcome of the company's curative petition filed in the Supreme Court," the statement said.