Sistema to buy Russia's stake in Indian subsidiary
Oil-to-telecom conglomerate Sistema on Monday said it will acquire the Russian government's 17.14% share in Sistema Shyam Tele-Services (SSTL). The Russian Federation had bought the stake in 2011 and entered an option agreement to sell them back to Sistema after five years for an estimated worth of $777 million. The move comes amid SSTL's merger with Reliance Communications. 