Sistema  Shyam TeleServices Ltd (SSTL) has denied that it is planning to acquire Aircel as reported in a English business daily.

 “Sistema Shyam TeleServices Ltd (SSTL) would like to categorically state that there are no plans of acquiring any telecom service provider. From the perspective of SSTL, the immediate priority is to look at the outcome of the Company’s curative petition filed in the Honorable Supreme Court”, an SSTL spokesman said in a statement.   

This is regarding the story appeared in Business Standard today with the headline “Sistema may buy into Aircel”. The story carries a misquote of Vsevolod Rozanov, President and CEO, SSTL.

The newspaper on Tuesday said that Russian giant Sistema is in preliminary discussions with Aircel to pick up an equity stake. Aircel, which has nearly 66.6 million customers in the country, is controlled by Malaysian telco Maxis Communications.
 
The report quoted  Vsevolod Rozanov, president and CEO of Sistema Shyam as saying , “We have had preliminary discussions, which also include them apart from others. But we will not take any decision unless we are assured our investment in the country is protected.”