Russia's Sistema to buy Aircel for $3 billion: largest telecom deal
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Russia's Sistema to buy Aircel for $3 billion: largest telecom deal

  • 2012-09-14 16:22:15
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News / Telecom Russia's Sistema to buy Aircel for $3 billion: largest telecom deal
Sistema, Russia’s largest investment firm is reportable to be in talks with Aircel’s majority stake holders Maxis Communications to acquire a controlling stake in Aircel for $3 billion.(Rs 16,500 crore) according to a report from The Economic Times. it's the largest transactions within the telecom sector since Vodafone bought Hutchison Essar for $11.7 billion in 2007.

Malaysia’s Maxis Communications owns 74 stake in Aircel that has concerning 65 million subscribers..Sistema already runs a CDMA network in India under its MTS brand and has Shyam telecom as its Indian partner. ), Aircel’s representative has denied of such deal, however ET has confirmed it with two of their sources, and they expect that the transaction can be declared shortly.

MTS is one of the carriers to possess found itself embroiled within the 2G license allocation scam when the Supreme Court revoked all licenses granted during a Raja’s tenure as the minister. Aircel has near 65million subscribers whereas MTS has slightly over 16 million subscribers.
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